Footsie down and Invensys tumbles

At morning trade the FTSE 100 was moderately lower after Invensys, the factory controls manufacturer, announced it would not meet first half profit expectations by almost a third. The FTSE 100 fell 25.5 points to 5379.6. The Techmark 100 slipped 6.73 points to 1514.4. Onlookers have highlighted Invensys' warning this morning as showing just how bad the downturn in industry actually is. The company blamed the global downturn and noted that it is seeing the worst recession in US industrial production since the 1970s. The stock slumped 18p to 84p . There were few gainers amon...