UK blue chips lead falls across Europe on Monday after a profit warning from troubled food retailer Tesco (TSCO). The FTSE 100 index is 52 points off at 6,786 in early trade.

The distressed grocery titan tumbles 8% to 211.25p after warning first-half profits were overstated by an estimated £250 million in its earnings alert last month. New CEO Dave Lewis says 'we have uncovered a serious issue and have responded accordingly,' with Deloitte called in to investigate accounts of the UK food business.

Mobile commerce platform developer MoPowered (MPOW:AIM) collapses nearly 65% to 7.25p after having to offer investors a huge 75% discount to Friday's 20.25p close to get its £3.5 million cash call away. This raises serious questions over the company's future and comes as a massive slap in the face to stock holders unable to get in on the share placing.

Retail and small business-focused bank Aldermore is to float on the main market next month, as flagged in Shares IPOs microsite. It intends to raise £75 million through private equity firm AnaCap and management floating 25% of the bank.

A bullish AGM update helps popular private investor stock Tungsten (TUNG:AIM) rise more than 4% to 382p. The e-invoicing specialist, and running Shares Play of the Week, is trading ahead of budget in 2015 and boasts a number of contract wins and renewals with blue chip clients.

Global talent management software supplier NetDimensions (NETD:AIM) jumps 8% to 70.75p as half year results show strong growth. The company added 32 new clients and saw invoiced sales from new business jump 79%.

Men's formalwear specialist Moss Bros (MOSB) fashions a 2p gain at 92.75p on better-than-expected interims and a positive outlook statement. Though pre-tax profits are marginally lower, reflecting a higher number of store closed for refits, like-for-like retail sales were up 8.5% with the help of a strong online performance, while Moss Bros flags a recovery in hire sales in the second quarter.

Cathedral City-to-Country Life maker Dairy Crest (DCG) sours 3.3% to 396p despite delivering a solid first half pre-close trading update. The food producer says profits will be broadly flat year-on-year, while there's also disappointment in the form of further exceptional cash costs due to restructuring.

Respiratory-focused drug developer Verona Pharma (VRP:AIM) falls 5.8% to 1.1p as investors take profits on an upbeat outlook following disappointing updates earlier this year.

Property investor Helical Bar (HLCL) gains 1.5% to 347.6p as investors welcome the purchase of a pair of  warehouses in Harrogate and Stockport in a £12 million deal. The deal sees Helical receive 6.95% of the purchase price in rent each year.

Issue Date: 22 Sep 2014