Energis faces FTSE exit after market nose dive

NEWS UK telco Energis faces de-listing from the FTSE 100 index in September after losing 20 per cent of its market cap following a trading statement yesterday. Energis chairman Gordon Owen said the company's first half results will fall below analysts' expectations, partly attributable to a one-off £12m restructuring cost, The Times reports. Owen added that second half results would be stronger as the company refocused on high-value telecoms services. The share nose dive wiped £550m off the company's market cap, as shares plunged 32p to 128p, their lowest since 1998. Now valued at £2.2bn, the company could face the chop when the FTSE 100 movers and shakers are announced.