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Pin to quick picksIntertek Group Share News (ITRK)

Share Price Information for Intertek Group (ITRK)

London Stock Exchange
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Share Price: 4,956.00
Bid: 4,968.00
Ask: 4,970.00
Change: 38.00 (0.77%)
Spread: 2.00 (0.04%)
Open: 4,934.00
High: 5,015.00
Low: 4,916.00
Prev. Close: 4,918.00
ITRK Live PriceLast checked at -

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STOCKS NEWS EUROPE-Intertek drops on signs of slowdown

Tue, 19th Nov 2013 08:37

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

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