Shares in support and outsourcing service provider Capita
fall 1.8 percent in heavy trading volumes after the company loses a contract with the British government.
Capita has lost out on the Disclosure and Barring Service (DBS) contract, which will replace the Criminal Records Bureau (CRB), whose contract with Capita runs until March 2013.
Capita traded the entirety of its average 90-day volume by midday.
A London-based trader says the missed contract that was moving the stock.
" is worth 1 percent of revenues and the shares have had a good run, forcing some profit taking," the trader says.
Since the start of June, the stock had risen 30 percent, although the Relative Strength Indicator rose above 70 in September, suggesting that the stock had been overbought.
Reuters messaging rm://firstname.lastname@example.org
Keywords: MARKETS EUROPE STOCKSNEWS