LONDON -- The FTSE 100 (FTSEINDICES: ^FTSE ) is crashing further today, down 124 points, or 1% to 6,036 as of 10:05 a.m. EDT. Today's big hit owes to fears that a Chinese liquidity crunch could further hit prices of commodities, sending the FTSE's big miners down.
But which companies are leading the FTSE down? Here are three from the various indexes that are sliding today.
SEGRO (LSE: SGRO )
Shares in industrial real-estate manager SEGRO have dropped 3.9% after the firm responded to recent press speculation and confirmed that it is in talks to form a joint venture with Public Sector Pension Investment Board. The partnership would involve the use of the bulk of SEGRO's European warehouses and would be managed by SEGRO, which would hold 50% of the combined operation.
SEGRO's shares are on a forward P/E of 16 now, with a dividend yield of 5.4% expected, based on current analysts' forecasts.
Kazakhmys (LSE: KAZ )
If the Chinese crisis weren't hitting miners hard enough, Kazakhmys is down 10.5% after the firm lent its support to an attempt to buy out Eurasian Natural Resources Corporation (LSE: ENRC ) . The bid of $4.7 billion has been made by three founders of Eurasian -- Alexander Machkevitch, Alijan Ibragimov, and Patokh Chodiev -- together with the Kazakh government. The deal would enable Kazakhmys to offload its 26% stake in Eurasian.
The bidders are offering $2.65 per share in cash, plus 0.23 Kazakhmys shares per ENRC share, and the deal could not go ahead without Kazakhmys' support.
Porvair (LSE: PRV )
Porvair shares have dipped 4% on the release of interim results that, on the face of it, looked good. With revenue up 8% to £386 million, the filtration and separation specialist extracted a 27% increase in pre-tax profit to £3.1 million. Earnings per share rose 23% to 4.9 pence, and the company managed to get its net debt down by 22% to £3 million.
Although Porvair's shares are down a little today, they're still up more than 130% over the past 12 months. And with the shares on a forward P/E of 26 based on forecasts for this year, shareholders are clearly still expecting a fair bit of future growth.
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