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Nicandro Durante, Chief Executive, commented: 'The trading environment remains challenging due to continuing pressure on consumer disposable income worldwide and the slow economic recovery in Western Europe.'

I've not read the full report this morning, but from the first bit, fells like there is more reason to think the sp will continue sliding for the foreseeable future. Margins and consequently profits are shrinking and at best they expect the profit to be the same next year (which they had advised previously).

Wed, 22/10.

Can see a decent chance of 1.60 now. Maybe 1 or 2 weeks.

Not impressed at all with results this morning. Think the sp will continue to struggle, at least in the next couple of weeks.

imo sp will slide back to 1218p (and possibly beyond) before it starts rising again. But, let the market prove me wrong.

I mean, next target 366 (not 396).

Not sure about profit warning, but report suggests to me that growth is likely to be flat at best. Enough reason for me to short MPI (which I luckily did one day before the trading update), and may remain so for now. Next target, 396.

sp struggling to break through 1923 support - 3 attempts in last 3 weeks. Interesting days ahead.

Should buy more as soon as the wider market calms down. Seems to be holding up pretty well.

Sub £2 now is probably not a matter of 'if' but 'when'.

206 support broken today. Did not expect sp would be testing 197 support level so soon though. Still see negative sentiment on the sp, but would not be surprised if it bounces back tomorrow (at least temporarily).

As RB pointed out in his 24/09 update IOM may be a bid target within a few months. For the time being I'll personally stay on the sidelines. Not sure 206 is the bottom...

Better than selling one to buy another is actually shorting both as they appear to heading in one direction only.

Picked up a few this morning at 156.6.

Picked up a few today. Hopefully it will start rising again next week.

Looks like the bears have left the building! http://shorttracker.co.uk/company/GB0006672785/all Will pick up some PIC on Monday.

"Our order book is at record levels extending out to 2015, helped in particular by strong demand for our smoke alarm products in France ahead of the introduction of new legislation in March 2015 which requires all domestic properties in France to fit at least one working smoke alarm," it said.

Really tempted to buy now, but shorts still holding me back... http://shorttracker.co.uk/company/GB00BJVWTM27/all

"It warned that sterling strength is expected to hit its earnings for the current year if current rates against the euro and ruble are sustained."