As the FTSE 100 rallies 44.4 points to 7,064.9 points on Monday ahead of a busy week for economic data and third quarter bank results, aerospace and defence firm Cobham (COB) crashes more than 13% to 139.5p on a profit warning.

Overall trading in Cobham's third quarter remained challenging and behind management's expectations due to 'underperformance in the SATCOM and Wireless business units in the Communications and Connectivity Sector and in the Integrated Electronic Solutions business unit within the Advanced Electronic Solutions Sector.' Accordingly, Cobham reduces trading profit expectations for 2016, including favourable currency impacts, to a range of £255m to £275m.

Elsewhere, South African miner Petra Diamonds (PDL) is in sparkling form, the shares bid up 7.3% to 150p on news of a 30% hike in first quarter production to 1,097,523 carats. CEO Johan Dippenaar says 'the diamond market is holding firm with prices on a like for like basis matching those realised in the period January to June 2016', although he also announces the tragic news of four Petra employee fatalities during the quarter.

Also in demand is emergency services communications network specialist Sepura (SEPU), unloved of late following a trio of profit warnings, which rises 1.7% to 15.25p on the well-received appointments of Alan Lovell as chairman and David Barrass as interim CEO.

Investment trading platform Plus500 (PLUS:AIM) sheds 4.7% to 638p as investors focus on lower average revenue per user (ARPU) data in the three months to 30 September. ARPU declined 28% to $1,107 (£907) in the third quarter, sparking a 4% decline in revenue to $77.5m. Margins improved on lower marketing costs, increasing from 37% for the first half of 2016 to 43% in the third quarter.

Data analytics specialist Fusionex (FXI:AIM) sparks up 14.3% to 200p on a positive trading update, earnings before interest, taxation, depreciation and amortisation (EBITDA) expected to be 'significantly ahead' of market expectations for the year to September. CEO Ivan Teh also anticipates the positive momentum behind Fusionex will continue in the current year.

Technology business Crossrider (CROS:AIM) clips ahead 2.9% to 36p on the $1 million acquisition of device driver search service DriverAgent, a first bolt-on deal for Crossrider as it accelerates its growth into the online product and distribution space.

McBride (MCB) is marked up 2p to 194.5p on news of an encouraging first quarter for the private label household and personal care products provider. Though sales fell at constant currency, margins and costs continued to improve under CEO Rik De Vos' turnaround strategy.

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Issue Date: 24 Oct 2016