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 departureof 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 appointedPatrick Sinclair as chief financial officer. Its shares are flat at 55.5p.
Ophir Energy (OPHR) drops 7.5% to 303.2p on a disappointing updatefrom its Mlinzi project in Tanzania.
Packaging and paper group Mondi (MNDI) drops 1.2% to £10.34 after news that chief executive officer David Hathorn has sold £522,578 worth of shares.
Avocet Mining (AVM) falls 5.5% to 9.01p after failing to repaya $15.8 million loan due 31 December 2013. It has merely paid the $0.8 million accrued interest.
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.
Newsof 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.
