There's a lacklustre start to the new year with the FTSE 100 down 1.7 points at 6,747 amid a scarcity of big-name corporate news to stir investors. Director changes dominate the headlines, led by the departure of Debenhams' (DEB) chief financial officer Simon Herrick following this week's profit warning (31 Dec). The retailer bounces back 1.4% to 74.05p.
Car dealer Lookers (LOOK), down 0.3% to 120.63p, reveals that motor division boss Andy Bruce will be chief executive following the retirement of Peter Jones. Quantity surveyor Sweett (CSG:AIM) has appointed Patrick Sinclair as chief financial officer. Its shares are flat at 55.5p.
There's a big setback for Kalimantan Gold (KLG:AIM) as metals major Freeport-McMoRan (FCX:NYSE) pulls out of a joint venture. That severs an important funding stream which has seen Freeport invest more than $33 million in the Indonesian interests since April 2011. Investors don't like the news, sending Kalimantan down 11.5% to 1.88p.
News of 20% revenue growth in 2013 drives shares in motor dealer software supplier Incadea (INCA:AIM) up 2.7% to 116p. In 2012 the company reported €29.3 million of sales so today's news implies a figure for 2013 of around €35 million. Incadea also reports European expansion and €5 million financing for future growth plans.