Engineers fall on second profit warning Engineering and industrial groups ended the week under a cloud, weighed down by a second profit warning in the sector that prompted selling across the board as investors prepared for further bad news. Spectris fell 112p to £15.49 and blue-chip GKN, which will release a trading update on Tuesday, lost 7.1 to 209.9p after advanced materials group Morgan Crucible, down 28½ at 227.3p, cautioned investors its full-year performance would miss expectations. The announcement came in the wake of a profit warning by Cookson, 9 lower at 530½p, on Monday. Following on from Cookson, it will be a case of spotting the next warning. IMI and Bodycote will top many lists but the lack of a Chinese/Asian exposure will be a plus," said Oriel Securities analyst Harry Philips. IMI shed 21½ to 904p on the FTSE 100 and Bodycote closed down 22.9 at 351.3p on the mid-cap index. Overall, the rally investors enjoyed on Thursday proved short-lived and the wider market headed south as concerns over earnings and a lack of clarity on a Spanish bail-out continued to hang over investors. The FTSE 100 dipped 36.43 points to 5,793.32, having closed lower on four out of five days this week, and the FTSE 250 declined 60.13 to 11,838.26. However, a 20pc increase in quarterly revenues and a record level of assets under administration enabled Hargreaves Lansdown to put in a strong performance, topping the FTSE 100 with an increase of 24 to 712p. Evraz, down 13.3 at 234.3p, brought up the rear on the blue-chip index after low demand prompted the company to temporarily suspend its Czech steel production line. A cut to "underperform" from "neutral" at Credit Suisse did not help either. Back on the FTSE 250, as expected, private equity group Carlyle was given more time to make a firm offer or walk away from defence equipment company Chemring, up 7.4 at 342.7p. The put-up-or-shut-up deadline was extended again to November 9 and Roger Johnston of Edison Investment Research speculated the move showed "the two sides are trying to thrash out a deal" and that "this is all about price now." Home Retail slipped 0.7 to 104.3p after climbing 6.4pc a day earlier on speculation outgoing WH Smith chief executive Kate Swann may take the reins. Elsewhere, mixed drilling results from Kazakhstan saw Tethys Petroleum tumble 6½ - or 17pc - to 31½p.