On a quiet day heading into the weekend the FTSE 100 is broadly flat in early trades at 7,458.48
FTSE 250 support services company Capita (CPI) is down 1.4% to 496.25p after agreeing to pay a further £66m to settle with the FCA over the Connaught Income Series 1 Fund. The fund went into liquidation in 2012 and Capita settled in 2016 for £18.5m.
However, the FCA decided that Capita Financial Managers (CFM) had not met all the regulatory requirements between 2008 and 2009. CFM is no longer part of Capita as it has disposed of its Asset Services business.
Defence company Ultra Electronics (ULE) sheds 4% to £16.48 as it reveals the timeline for getting its acquisition of US rival Spartan passed by US regulators. The company expects a decision from the Department of Justice by the end of March 2018.
Financial services company IFG (IFP) gains 1.6% to 170.38p as its assets under administration and advice exceeds £30bn. It is now serving over 60,000 customers through its wealth planning and financial advice businesses according to a trading statement.
Metals machining company Castings (CGS) drops 7% to 428p as pre-tax profits fall to £5.9m in the six months to 30 September. This is down from £7.1m on the year before. However, revenue was up to £61.7m from £57.9m.
Miner Vedanta Resources (VED) loses 3p to 850.50p despite revealing it has swung into profit for the six months to 30 September. It made a $21m profit compared to a $64m loss for the same period a year ago.
AIM-quoted energy company Gulfsands Petroleum (GPX:AIM) is marked down 6% to 5.88p as its announces it is exiting Morocco. The company is immediately winding down its activities in the North African country.
