Ports authority unable to contain its share price despite strong results

Published on Tuesday 11 September 2007 01:03

FORTH Ports, the port authority and property developer, sank 2.7 per cent as first-half profits fell, despite results being in line with expectations and the strength in its container business. Shares lost 50p to 1,775p.

Wolfson Microelectronics was another major faller, down 3.7 per cent to 345p, losing gains made on the back of Apple's iPhone price cut last week.

Banks also fell, with RBS down 1.5p to 530.5p, while HBoS lost 7.5p to 871.5.

Several oil and related services companies were among the few risers on a falling day yesterday, with Venture Production rising 7.5p to 730p, Abbot Group up 0.5p to 274p and John Wood Group up 6p to 380.5p.

Brewer Scottish & Newcastle was also in positive territory, rising 4p to 616p despite the pros- pects of a full bid from Danish rival Carlsberg appearing to lengthen.

On AIM, oil and gas minnow Faroe Petroleum rose 1p to 117.5p after its interim results were cut on first production from the Minke Main gas field and lower costs going forward.

IndigoVision, the Edinburgh-based digital CCTV company, fell 7.5p to 887.5p, losing gains made in recent days ahead of this week's full-year results, and dental technology company Idmos fell to a new low of 40.5p, losing 5.8 per cent on the day.