Business

Galliford shares hit by £100m project blow

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(Close): Housebuilder Galliford Try saw its shares plunge 10.7% after rising costs on two Scottish infrastructure projects took their toll.

The FTSE 250-listed firm has taken a one-off charge of nearly £100m on the cost of the Queensferry Crossing bridge and the Aberdeen West Peripheral Route.

On the FTSE 100, Sainsbury's fell 5.7% on an 8.2% drop in full-year profits.

The 100-share index finished 0.21% lower at 7,234.53, while the FTSE 250 was down 0.62% at 19,683.39.

ITV fell 1.75% on news that its chief executive Adam Crozier is to step down after seven years at the helm.

Paddy Power was another major faller on the FTSE 100 - dropping 4.3% - after saying it was cautious on European revenue growth due to a "pretty extreme" level of competition.

Software firm Sage was among the winners on the index, adding 3.4% on the strength of its first-half results.

The company said it was very confident of exceeding its full-year guidance of 6% revenue growth.

On the currency markets, the pound was down 0.23% against the dollar at $1.2909 and flat against the euro at 1.1826 euros.