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STOCKS NEWS EUROPE-UK small caps rise 0.1 pct, in line with FTSE

Reuters - UK Focus

The FTSE small cap index rises 0.1 percent, in line with the mid-caps and the blue chips but underperforming the junior-listed AIM shares, which gain 0.2 percent.

Baobab Resources (LSE: BAO.L - news) gains 3.1 percent after releasing an update on its Tete project saying that its 2013 drilling campaign has been successfully completed.

"Baobab had good news in an update on on-going work at the flagship Tete pig iron project in Mozambique: channel sampling... indicated the presence of a higher-grade cap at the Tenge prospect," Shore Capital (Other OTC: SHOCF - news) said in a note.

"This development clearly has positive implications for project economics, although we cannot quantify this at this stage."

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Densitron Technologies falls 25 percent after warning that the profit it expected to achieve in 2013 will not materialise, with several projects not progressing as quickly as anticipated and exceptional costs meaning the company will report a loss for the current year.

Reuters messaging rm://alistair.smout.thomsonreuters.com@reuters.net