Beyond the Footsie: Wednesday close

SHARES in UK smaller companies were pinned down by profit-taking as disappointing figures from

Bookham tumbled 24 3/4p to 57 1/2p after the group said it expects sales to fall by 3% to 12% because of the anticipated lower demand in the quarter from Nortel Networks.

In reaction, Oriel Securities downgraded the stock to 'reduce' from 'hold'.

Elsewhere, British Energy fell 2.19p at 12.11p after the UK government announced that although it plans to retain its special shares in the group, it will modify its powers.

Public relations and marketing group Incepta was also under pressure, falling 11p to 106 1/2p after issuing a cautious trading outlook.

Storage company Big Yellow Group was off 7 1/2p at 149p, as traders took profits after the company revealed a swing to profits in the year to March 31.

Gearbox maker Torotrak also continued to lose ground, reversing 8p more to 55p amid persistent talk of a contract delay and after bearish comments in trade journal European Automotive Design.

On a brighter note, software group Gladstone added 3 1/2p to 16 1/2p. In an upbeat trading statement, it reported a good start to the second half of the year with sales success within local authorities and private clients.

Gaming Corp rose 0.25p to 2.75p in response to its acquisition of Ofex-traded Eyeconomy.