- FTSE indices continued to track lower to midday with travel-related stocks, such as airlines, hurting on global security fears, and tightening tensions in the Middle East as Turkish fighters downed a Russian jet near the Syrian border. European markets were heavily lower.

To noon, FTSE 100 was down 54.59 points, or 0.87%, to 6250.9. FTSE 250 was down 171.07, or 1.0%%, to 16,935.9, below the key 17,000 level. At 11.41am, WTI and Brent crude were up 0.6%-0.9%. Gold and copper were at USD1073/oz and USD203/lb.

In travel, International Consolidated Airlines (IAG) was down 3.39% to 548.75p, while easyJet (EZJ) was off 2.92% to 1598p. TUI AG (TUI) faltered 2.57% to 1060p and Carnival (CCL) slipped 1.57% to 3424.5p. The rising global security fears follow the recent Paris terror attacks and the long-running violence in Syria.

House builder tilted south in the wake of Barratt Developments (BDEV), lower 2.57% to 558.25p, while retail and supermarkets were guided down by Burberry (BRBY), off 3.26% to 1217p, and M&S (MKS), off 2.2% to 497.3p. B&Q-owner Kingfisher (KGF) eased 0.36% to 343.85p as its total sales fell 2.5% to GBP2.65bn in the 13 weeks to Oct. 31.

Also suffering among the 90-odd blue chip fallers were US rates-sensitive utilities, several banks, insurers and investment specialists. Although some miners lost ground, others enjoyed limited traction. Babcock (BAB), up 3.43% to 1039.5p, led gainers on reporting strong growth in H1 with excellent visibility of future revenues, while Compass (CPG), up 0.05% to 1077.5p, has reported another strong year.


Patagonia Gold (PGD), down 15.08% to 1.38p, has revised annual production to from the Lomada de Leiva mine to 21,542 oz, versus a previous forecast of 31,000 oz.

Immunodiagnostic Systems (IDH), down 16.67% to 225p, has posted an H1 pretax profit of GBP0.8m, from a profit of GBP2.8m. Revenue was lower. Golden Saint Resources (GSR), down 20% to 0.03p, has raised GBP0.17m via the issue of 680m new shares at 0.025p each. Net proceeds would go to general working capital purposes.

Creston (CRE), down 15.83% to 117p, said its H1 revenue rose 8% to GBP40.3m. Like-for-like revenue was up 1% at GBP37.7m. Headline pretax profit rose 7% to GBP4m. Interim dividend was up 5% to 1.42p a share. Severfield (SFR), up 5.7% to 60.25p, has improved its H1 pretax profit to GBP3.2m, from GBP1.7m. It improved interim dividend to 0.5p a share, from nil.


Germany's economic growth slowed in Q3. The country's final gross domestic product for the three-month period rose 0.3%, in keeping with a preliminary reading but below the 0.4% expansion seen in the previous quarter. Meantime, the country's IfO business climate index for November came in at 109, against an anticipated 108.3 and from 108.2 previously.


Chamberlin (CMH), down 11.46% to 69.5p, has warned FY underlying pretax profit would down on the year after its H1 results were hit by a weak euro and a slowdown in some core markets. Circassia (CIR) traded 6.3% higher to 281.7p after the allergy drug developer's generic asthma product was cleared for sale in the UK. It is now targeting a European launch.

Futura Medical (FUM), up 6.45% to 24.75p, is preparing to file topical pain relief candidfumfumtes TPR100 and TIB200 for approval with the European regulator after being told that no further tests are needed to prove they work.

Severfield (SFR) jumped 5.7% to 60.25p after the group posted a 20% hike in H1 revenue to GBP117m. Falkland Oil & Gas (FOGL) was up 4.38% to 10.02p as it recommended an all-paper merger with fellow Falklands oil explorer Rockhopper (RKH), down 3.13% to 34.63p.

Paternoster Resources (PRS), down 4.35% to 0.22p, confirms the purchase of USD0.5m of convertible loan stock in Alecto Minerals in exchange for the issue of 100m new shares in Paternoster. Pets at Home (PETS), down 2.33% to 276.5p, has marginally improved its H1 pretax profit to GBP40.9m, from GBP40.5m. Interim dividend was 2p a share, up 11.1%.

John Menzies (MNZS), down 4.35% to 365.88p, said its FY earnings is now expected to be some GBP2m below the board's previous expectations. Overall, its balance sheet remained strong, supported by a relentless focus on cash management actions.

Shaftesbury (SHB), down 1.17% to 909.25p, has hiked its FY EPRA NAV by 21.9% to GBP8.69 a share, from GBP7.13 a share. Final dividend was 6.925p a share, taking the total to 13.75p, up 5.0%. Its portfolio is valued at GBP3.13bn.

Other stocks in the news included Laird (LRD), Ladbrokes (LAD), Satellite Solutions Worldwide (SAT), De La Rue (DLAR), Pure Wafer (PUR), Oxford Instruments (OXIG), PureCircle (PURE), NCC Group (NCC), Cineworld (CINE), Mitchells & Butler (MAB), Cambria Automobiles (CAMB), Scapa (SCPA), Greencore (GNC) and Waterman (WTM), Sound Energy (SOU), Circassia Pharmaceuticals (CIR), ITM Power (ITM) and Record (REC).

Story provided by