Spectris shares shirk off profit warnings Spectris shares were on the rise in early trading as the testing equipment group unveiled an increase in third quarter sales, shirking off recent profit warnings in the industrial sector. The FTSE 250 group advanced 9pc to £17.38, the best-performing company on the mid-cap index, after posting a 12pc increase in sales in the last quarter. Investors had been concerned about a slowdown in the sector after both Cookson and Morgan Crucible earlier in the month warned the market that earnings would be lower than originally expected, putting pressure on Spectris shares, which were trading above £18 in September. "A 12pc fall in the share price so far this month leads us to believe that the market was expecting a downgrade today which has not materialised," said broker Numis. Following four days of gains, the FTSE 100 was flat this morning and up just 2 points after reaching its highest in seven months yesterday. The FTSE 250 was up 9 points in early trading. Aggreko was a drag on the benchmark index, tumbling 7pc after issuing a profit warning of its own. The temporary power supplier said exchange rates and debt provisions would weigh on earnings. Bunzl also slipped 3.5pc despite announcing that third-quarter revenues rose 5pc. Back with the mid-cap stocks, yesterday's news that Redrow takeover talks had ended and a bid for the company had been scrapped saw the housebuilder's shares fall 6.4pc this morning. The news broke after Thursday's close. Liberum Capital said it was "very surprised" that Redrow founder and chairman Steve Morgan had abandoned his tilt at the company. However, the broker argued that the housebuilding sector had rallied of late and the so the group's current share price is "justifiable."