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08:50GMT 04Nov2008-Man Group up, interims beats forecasts
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Shares in Man Group gain 0.3 percent, outperforming a weak FTSE 100 index, down 1.1 percent, as the hedge fund manager posts above-forecast full-year results, prompting Evolution to repeat its "buy" rating on the stock.
Evolution says in a note that Man Group's first-half results are likely to represent the trough earnings for the business.
"Having surpassed its own pre-close guidance short term sentiment is likely to be good, and with a positive outlook statement over the demand for the new fund platform, a return to EPS growth looks likely," Evolution says.
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08:41GMT 04Nov2008-Invensys down, weak orders at unit weigh
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Engineer Invensys is the biggest faller in the FTSE 100 index, down 9.4 percent, as weakness in orders at its Operations Management division overshadows a reiteration that its full-year performance will beat last year's.
Analyst Lisa Randall at Nomura says the first-half results are a dent to confidence, but she retains her 320 pence price target, saying the second half could be a positive catalyst.
"We expect disappointment to centre on Operations Management after what has been a surprisingly weak second quarter in terms of orders," she says in a note.
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08:26GMT 04Nov2008-UK small caps down 0.2 pct at the open
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The FTSE Small Cap Index is off 0.2 percent in opening trade, outperforming the FTSE 100, down 0.7 percent, and the FTSE 250, down 0.8 percent.
AIM-listed Quadnetics drops 7.7 percent after the provider of CCTV systems and security networks revises down its baseline full-year underlying profit expectations as a result of potential delays in its North American gaming contracts.
Building-maintenance firm ROK Plc gains 10 percent as it forecasts full-year results will be inline with expectations and it says it is trading comfortably within its bank facilities.
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