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Source: Daily Mail, LondonJuly 26--HAVING been given the nickname Crapita, following several well publicised failures and setbacks in the public sector, Capita's shares have recently been trading its socks off.mini storage The outsourcing group, which looks after the TV licence for the BBC and the Driving Standards Agency, recently hit an all-time high of 1057p, a level and rating that sceptics said looked too toppy.Yesterday, the stock slumped 40.5p or 3.91pc to 996.5p when dealers heard profit margins slipped more than expected in the first six months of the year. Organic growth of 3pc was achieved but EBITA margins came under more pressure than expected, down 80 basis points to 12.5pc, reflecting acquisition integration costs and contract implementation costs.Capita, which gets around half of its revenues from the public sector, grew pre-tax profits to pounds sterling 205.2m compared with pounds sterling 186.4m in the same period last year. The interim dividend was raised 10pc. A record pounds sterling 2bn of major contract wins were secured in the first half.Nevertheless, Panmure Gordon's analyst Mike Allen is a seller as the margin decline has been greater than anticipated. His target price is 850p.Another notable casualty was GKN, which lost 14.3p to 326.8p as rumours of an imminent $5bn cash and shares bid for Spirit AeroSystems, the Wichita, Kansas-based aerostructures manufacturer, refused to lie down.As expected, the UK economy grew 0.6pc in the second quarter, posting the first consecutive quarterly positive growth in over two years. Dealers had already discounted the bullish news and so the Footsie drifted on scrappy selling to close 32.48 points lower at 6,587.95, while the FTSE 250 shed 67.24 points to 14,767.89.Sentiment was not helped by a shock profits warning from German chemicals heavyweight BASF and Siemens also warning that it did not expect to reach its 2014 profit margin target.Wall Street lost 77 points in the early stages despite news that durable goods orders gained more than expected in June. Fund managers in New York are still nervous the Fed will start to taper its $85bn per month bond buying programme in September.Buying ahead of today's annual results helped satellite TV group BSkyB climb 12p to 850p. Sky is forecast to show a continuing take-up of its subscription products, including strong gains in broadband customer numbers, which had soared to 4.4m, by the end of March. Pre-tax profits are expected to rise by 9pc to pounds sterling 1.25bn. BG Group touched 1190p before closing flat at 1185p. Buyers nibbled away first thing on hself storagearing that Petrobas has completed the drilling and formation test of the fourth exploration well at Iara, block BM-S-11, in the Santos Basin, Brazil. BG owns 25pc of Iara.Howden Joinery rose 13p to 288.5p after Numis lifted its target price to 325p from 265p after the group reported better-than-expected half-year earnings.Numero uno spreadbetting firm IG Group advanced 14p to 580p, shrugging off the sale by chief executive Tim Howkins of 983,472 shares at 567.2p a pop to help pay for a divorce settlement.Disappointing second-quarter production data left miner Kazakhmys 17.7p down at 263.3p. Investec said that although the group said it was on track to meet its targets, costs are the key challenge for the core mining business.Profit-taking following in-line third-quarter sales figures left All Bar One pubs group Mitchells & Butlers hung over at 413p, down 13.8p. Like-for-like sales rose 1.6pc in the third-quarter and are up 0.7pc after 42 weeks.Heavily indebted pubs group Punch Taverns firmed 0.62p to 13.38p ahead of more news regarding its corporate restructuring. Despite a robust trading statement, pub and restaurant group Marston's cheapened 4p to 160.5p. Like-for-like sales in the core pubs are ahead 6pc over the ten weeks to July 20, helped by the UK heatwave.Marston's has opened 16 new pub restaurants over the year to date and is on target for 21 to 23 by the year-end.Providence Resources remained friendless at 428p, down 24.5p, continuing to be sold after declaring this week that it had found water, not oil, at an exploration well in deep water off the south-western coast of Ireland. Boss Tony O'Reilly Junior has been reassuring investors in City presentations and analysts say the fall is overdone.Yesterday, Providence announced that Netherland Sewell has provided an estimate of the cash flows attributable to the company from the Basal Wealden A oil reservoir at Barryroe. By all accounts the figures look good and analysts are perplexed as to why the shares have fallen so sharply.AIM-listed Globo buzzed 0.5p higher to 40p following a bullish pre-close trading update. RBC Capital Markets has a target price of 70p after the company announced a 51pc leap in revenue growth and said it expects interim pre-tax profits to be ahead of expectations. There has been strong demand for the company's GO!Enterprise products, giving employees secure, mobile access to corporate data on their devices.Copyright: ___ (c)2013 Daily Mail (London, ) Visit the Daily Mail (London, ) at www.dailymail.co.uk/home/index.html Distributed by MCT Information Services迷你倉