Shares in Cosalt fell by more than 21 per cent yesterday after the marine safety equipment group said that trading for the full year would fall short of market expectations.

The group, which supplies flotation devices, ropes and firefighting gear, warned last month that it was trading below expectations but was initially hopeful that an improving order book and a strong end to the year would make up a poor start to 2009.

However, such hope has disappeared and the Grimsby-based company has conceded that such improvements are unlikely to make up in full for earlier weakness.

Cosalt said that it continued to take decisive action in response to the weak market conditions and that it had extended its cost-reduction programme. Shares in the company, which was caught up in the David Ross share pledge scandal late last year – Mr Ross was the group’s chairman at the time – fell 14.2p to 53.1p. They traded at more than 350p a year ago.

Carluccio’s fell 14.6p to 82.9p after the Italian-style café and delicatessen group said that it was no longer in takeover talks with a mystery suitor. The company, founded in London in 1991 by Antonio Carluccio, the well-known Italian chef, and his wife, said this month that it had received an approach but did not identify the would-be buyer.

Ceres Power rose 8¼p to 180p after the fuel cell group said that it would receive £2 million from British Gas after its combined heat and power unit met all its targets under the Alpha phase of the programme.

Anglo Asian Mining rose 2p to 18p after starting production at its flagship Gedabek gold and copper mine in Azerbaijan.

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