The FTSE 100 fell further this afternoon after a poor start as US markets opened lower. This was attributed to profit taking ahead of the expected passage of US tax reforms.
Major oil producer Royal Dutch Shell (RDSB) fell 0.5% to £24.32 on news it faces a trial in Italy over corruption allegations in Nigeria.
In bad news for the UK, the International Monetary Funds cut its outlook for economic growth, down to 1.6% this year from 1.7%.
MID AND LARGE CAP RISERS AND FALLERS
Shares in UK supermarket Tesco (TSCO) were flat at 206.4p despite the Competition and Markets Authority giving the green light for its merger with Booker (BOK). Investors could be worried about whether the deal represents good value for money and if it would impact the supermarket's recovery. Tesco said it expects the deal to complete in March 2018.
Healthcare provider NMC Health (NMC) revealed it would focus on growing its geographic footprint outside the United Arab Emirates and its fertility business under its new strategy. Investors took the news in their stride as the shares retreated 4% to £27.38.
Power generation company Drax (DRX) dimmed 2% to 270.9p on an expected £10m hit to its earnings after an unplanned outage at its rail unloading facilities at Drax power station.
Thermal processes specialist Bodycote (BOY) entered a long term deal to provide Doncasters with their heat treatment requirements in the UK. Shares in the company fell 0.3% to 894p.
SMALL CAP RISERS AND FALLERS
Low & Bonar (LWB) plummeted 22.5% to 52.5p on a profit warning. The performance materials specialist reported full year outturn would be lower than expected due to trading in the coated technical textile division. Full year adjusted profit before tax is expected to be between £30m and £31m.
An independent audit at Bahamas Petroleum (BPC) excited the market as it confirmed the company could be sitting on billions of barrels of oil, triggering a share price rally of 46.2% to 0.95p.
Embattled Carillion (CLLN) enjoyed a 4.6% boost to 17p following the construction services group's announcement that chief executive office Andrew Davies will join earlier than anticipated.
Cyber defence business Falanx (FLX) won a multi-year contract win with a large unnamed company worth £250,000, causing the shares to soar 22.5% to 4.7p.