Embattled miner Anglo American tumbled further, down 24.95p to 298.7p after yesterday’s drastic cost-cutting measures were unveiled, and for the first time this year overtook Glencore as the frontrunner for the unenviable prize of the Footsie’s wooden spoon.
Today’s 7.7% nosedive means the stock has crashed 75% in 2015, compared with Glencore’s 74% collapse.
A cut to earnings forecasts by Deutsche Bank hurt Pearson, down 28.87p to 735.13p. The education publisher is hotly tipped to join the list of companies to have cut their dividends this year.
Carillion, the most shorted stock on the LSE with almost 18% of its shares out on loan to investors betting against a rise, rose 9.1p to 311p as the construction services firm confirmed it is on track to hit its annual targets.
Carillion tried to buy Balfour Beatty last year (Picture: Getty Images)
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Much to the disappointment of short-sellers, which include BlackRock and David Fear’s Thunderbird Partners, it also announced new contracts worth £1 billion.
Meanwhile, Balfour Beatty, which Carillion tried and failed to buy last year, gained 4.7p to 267.1p after an encouraging trading update.
On AIM, annual results from Focusrite, whose music equipment is used by hit British band Rudimental, struck a bum note with investors, plunging 37.6p or 20% to 152.4p and wiping out gains made in the run-up to the full-year figures, which revealed a 17% rise in revenues to £48 million.
