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FTSE flat despite Petrofac plunge

The FTSE 100 fell on Monday, dragged down by a slump of more than a quarter in Petrofac shares quarter after it slashed its guidance for 2015. Miners fell after rising sharply on Friday.

Petrofac slumps on contract woes

Shares in oil services group Petrofac fell by almost a quarter this morning after management slashed its outlook for 2015. This is only in part down to the fall in the oil price, with management and strategic issues a cause for concern.

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