Intertek, a company specialising in safety and quality tests, fallsto the bottom of Britain's benchmark FTSE 100 index in brisk volume,which analysts and traders blame on signs of a slowdown at its business.
In a management update on Tuesday, Intertek says that headwinds experiencedin the first-half of the year have continued into the second half, and thispushes its shares down by 4.3 percent to 3,043 pence in early sessiontrading.
Intertek's share price fall underperforms a 0.6 percent decline in the FTSE100. Trading volumes in the stock come in at 49.7 percent of Intertek's average90-day volume - above volumes on the FTSE 100 which stand at only 5.7 percent ofthe index's average 90-day volume.
"The bottom line is that growth has slowed quite materially in the secondhalf, and that's what's hitting them," says Hartmann Capital trader BasilPetrides.
Shore Capital keeps a "sell" recommendation on Intertek shares, arguing thatthe company may have more downgrades to forecasts.
Intertek shares have fallen by around 1.8 percent since the start of 2013,underperforming a 13 percent rise in the FTSE 100.
Reuters messaging rm://sudip.kargupta.thomsonreuters.com@reuters.net