Leading shares fell on Tuesday despite a firm start to the week. Market watchers cited downward pressure in the US and Japan for the falls.
A mixed bunch of figures from major companies also took some of the early optimism from the FTSE-100 index, which fell 27.2 points to 5807.7 by mid-morning.
Rolls-Royce was 0.25p down at 264.75p after Chinese orders for aircraft were delayed. Elsewhere, speculation of an imminent disposal from FKI prompted the company’s shares to rise another 3p to 178p. FKI has been the target of persistent bid speculation.
Weir Group dropped 1.5p to 273.5p as analysts advised investors to take profits on recent gains.
Alumasc shares climbed 2.5p to 104p after it revealed a fall in pre-tax profits from £4.3m last year to £3.9m. The company blamed softening of demand in the automotive-related sector for the shortfall. Alumasc added that restructuring and disposal of non-core businesses would yield results in the near future despite weakened market conditions.
Stoves Group reported a sharp drop in pre-tax profits for the first half. Profits dived from £2.8m to £400,000 this time. Its shares fell in response, losing 2p to stand at 67.5p
Manganese Bronze shares soared on Monday to 250.5p following talk of a bid approach. The shares closed back at 226p after the company denied the claim.