Shares in defence firm Qinetiq plunged today after it warned that profits will be hit this year because of the squeeze on military spending in the US and UK.
Profits are likely to be down by over 15% for the full year because of continuing uncertainty over military spending and delays in orders for hardware.
The company, which is listed on the FTSE 250, also announced that Sir John Chisholm had retired as chairman and would be re placed by non-executive director Mark Elliott.
Shares in the company plummeted 19.30p, or 11.85% to 143.6p.
Meanwhile, over in the FTSE 100, shares in hedge fund firm Man Group were down 18.10p, or 5.76%, at 296.3p after it said it saw assets under management fall 4% to $42.4bn in between October and December due to losses from its flagship futures fund AHL.
Meanwhile, one of Cadbury's biggest shareholders, Legal & General Investment Management, reiterated that the £10.5bn bid by Kraft Foods undervalues the British confectioner.
"Our position on Cadbury is unchanged; we continue to believe that the current Kraft bid does not reflect the long term value offered by the company on a standalone basis," Mark Burgess, head of equities at L&G, said in a statement.
Shares in Cadbury were down 3p, or 0.38%, at 796.01p.
