Beyond the Footsie - Tuesday close

12 April 2012

SHARES in

Gaucho Grill

The news came as Gaucho announced a swing into loss for the year to January and said it would suspend its expansion programme until market conditions improved. Last October, the group announced a potential management buy-out bid for the group had been withdrawn.

Gaucho Grill, formerly known as Gioma, stepped down to AIM from the London Stock Exchange's Official List at the start of the year.

Shares in UK smaller companies closed modestly higher. The FTSE SmallCap index was 2.7 points firmer at 2,551.1.

Pilat Technologies International also saw good demand after revealing it is aiming for profitability in the current year following the spin-off of its media business.

The group suffered a pretax loss of £4.3m for the year to January, which it said reflected the development and demerger costs of the media business, Pilat Media Global. Pilat Technologies is now focusing on its personnel performance management business. The shares added 2 1/2p to 9p.

Finance company Resurge firmed 3/4p to 6 1/2p after saying it has made its third investment in International Pursuit Corp. Resurge has invested $1m in the deal.

Medical products firm Veos gained 1/2p to 4 1/2p. Iit has secured $300,000 funding through a convertible loan agreement with Israeli investment company Tarshish Estates and Investments. Veos says negotiations on further funding by two international investors are advancing.

Shares in Newcastle United jumped 4p to 23 1/2p on enhanced hopes the Premiership side will clinch the key fourth place European Champions League position for next season. After Friday's 6-2 crushing of Everton, Newcastle face Aston Villa tonight in a crucial Premiership fixture.

Division One football club Sheffield United saw its shares fall of 1 1/4p to 5p, as yesterday's loss at home to Wimbledon killed off any lingering hopes of a possible promotion play-off route to the Premiership next season.

Split capital investment trust Quilter Global Enhanced suffered the same fate of many of its peers, dropping back after announcing that it is no longer able to proceed with a planned reorganisation and placing due to a deterioration in the asset value of the shares held by the company,

In a little over a month, its gross assets have fallen to £26m from £31.6m. The shares fell 2p to 2p.

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