STOCKS NEWS EUROPE-UK small caps rise ahead of AIM-listed shares

The FTSE Small Cap index rises 0.3 percent, outperforming the mid-caps and the blue chips, both up 0.2 percent, as well as junior-listed AIM shares , which fall 0.2 percent.

Chipmaker Wolfson Microelectronics drops 7.7 percent as it swings to an underlying loss in the final quarter of 2013 after struggling against Qualcomm (TLO: QC-U.TI - news) 's dominance in 4G mobile phone technology.

"Q4 results are in line with our forecasts, at the lower end of guidance. Q1 sales guidance is relatively weak, with the outturn dependent on the timing of end-product launches," analysts at Peel Hunt write in a note, reiterating a "hold" rating on the stock.

"We see value on a 12-month view but expect poor visibility through H1 to weigh on the stock."

Punch Taverns (Other OTC: PCTVF - news) falls 4.3 percent after the pub operator issues a last minute plea to its stakeholders to approve a restructuring plan that is set to be voted on next week.

"The next few days will be some of the most important in the company's history... It is well known that certain creditors with blocking stakes have said they do not support the proposals. We have tried to listen to everyone and find a middle way," the company says in a statement.

"Failure to effect a restructuring will lead to a default in the securitisation, which is expected to have a material negative impact on the business," the company adds, although later on Wednesday securitisation bondholders described the proposals as "unsignable".

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