STOCKS NEWS EUROPE-UK small caps up 0.3 pct at mid-day, lag AIM

UK small caps are up 0.3 percent by mid-session, while the broad AIM index adds 0.8 percent and the mid-caps rise 0.9 percent.

Northgate (LSE: NTG.L - news) falls 3.5 percent after the van rental company reports a 17 percent decline in full-year profit and gives a mixed outlook, says the Spanish business is likely to continue to decline albeit at a slower pace, while the UK segment should stabilise before starting to increase.

The news prompts investors to take profits on a stock which has nearly doubled in price over the past year.

"Northgate has delivered results broadly in line with our forecasts, with trading conditions remaining tough in both markets," analsts at Panmure Gordon say in a note. "...with earnings momentum still negative against a strong share price performance to date, we maintain a cautious view on the stock for now."

Elsewhere, shares in AIM-listed IT security specialist Accumuli (LSE: ACM.L - news) add 6.3 percent to 15 pence after posting a 19 percent rise in EBITDA for the year to end-March and unveiling a maiden dividend.

FinnCap raises its price target on the stock to 18.5 pence from 17.5.

Reuters messaging rm://antonina.vorobyova.thomsonreuters.com@reuters.net