3 FTSE Shares Plunging Today

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

LONDON -- The FTSE 100 (INDEX: ^FTSE  ) is going nowhere fast at the moment, just five points up on the day at 5,814 points after having recovered from last week's fall due to fresh eurozone panic.

But unfortunately, "going nowhere" is not something that can be said about three companies in the various FTSE indexes that headed south pretty sharply today.

Lamprell (LSE: LAM.L  )
A fresh profit warning from engineering contractor Lamprell sent its shares plummeting by 32% to 75 pence. That comes after an earlier warning in May put the price into nosedive, and it's now down almost 80% since then. Further delays in contracts are now expected to force the company into a "significantly greater" loss for the year than previously expected; prior to today's update, forecasts suggested a loss of 8.5 million pounds.

The firm is also in discussion with its lenders regarding its covenants and ominously told us that it "considers that changes to the leadership and senior management team are required to ensure that Lamprell begins to rebuild its reputation with both investors and customers."

FirstGroup (LSE: FGP.L  )
FirstGroup, which had been awarded the West Coast rail franchise (pending a legal challenge from Virgin Rail), saw its shares plunge by 20% to 195 pence after it learned last night that the whole thing has been scrapped due to technical flaws being discovered in the Department for Transport's handling of the competition.

Some staff have been suspended, there will be an independent investigation, and all other franchise competitions will now be postponed -- though the DfT did stress that none of the bidders were at fault. Meanwhile, a certain Mr. Branson is reported to be in a rather better mood today.

Quadrise (LSE: QFI.L  )
Quadrise Fuels International, the AIM-listed developer of a low-cost alternative to heavy fuel oil for the shipping and power-generation markets known as MSAR, dropped 10% to 8 pence today. It was revealed that the firm is in the process of raising new funds via a placement of 50 million new shares at a price of approximately 7 pence per share, as recent press speculation was confirmed.

Today's fall comes after the shares had been on an impressive recovery, having doubled from less than 5 pence in the past month.

Shock news like this is never welcome, so why not stick to quality dividend-paying shares the way Neil Woodford does? The free Motley Fool report "8 Shares Held By Britain's Super Investor" takes a look at some of his major holdings. Click here to get your free copy while it's still available.

And if you're looking for multi-baggers, which we can all achieve with a patient long term view, we have a report that helps you plan your way to your first million. Don't think it's possible? Well, it'll cost you nothing to get a copy and see for yourself.

Further Motley Fool investment opportunities:

Alan does not own any shares mentioned in this article. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Read/Post Comments (0) | Recommend This Article (7)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2041561, ~/Articles/ArticleHandler.aspx, 10/21/2016 10:18:16 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 hour ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/21/2016 11:35 AM
^FTSE $7020.47 Down -6.43 -0.09%
FTSE 100 CAPS Rating: No stars