Once again, Barclays remained the talking point among investors. Having recently seen a major Middle Eastern shareholder sell its stake of more than 11 per cent in the company, Barclays agreed to sell its fund-management division, Barclays Global Investors, to American investment company Blackrock for £8.2bn in cash and shares.

The deal will mean that Blackrock will become the world's biggest asset-management firm with assets worth £1.64trn, of which Barclays will take a 19.9 per cent share of the combined business.

Premier Farnell, the international electronics distributor, reported a 63 per cent fall in first-quarter pre-tax profit, to £13m. The Leeds-based company said that it was dissatisfaction with the performance but added that it remains focused on improving its position to seize opportunities for growth.

Chief executive Harriet Green attributed much of the underperformance to the continuation of industrial and electronic de-stocking in the supply chain, along with reduced activity.

But while the drop in pre-tax profit won't have pleased investors, the company's international growth remains robust, with sales up 167 per cent in India and 56 per cent in eastern Europe.

The company also has a £88m in facility headroom and a net cash position of £30m which should help endure these difficult times.

Another company feeling the effects of the economic downturn is coal producer ATH Resources. The company which operates surface-coal mines and recovers coal via tip-washing, reported a 75per cent fall in first -half pre-tax profits to March 29, of £0.1m compared with £0.4m the previous year.

The group identified a lack of production and failure to generate any income in its regeneration business as the reasons for these disappointing results.

The company has also announced its intention to defer the payment of an interim dividend until the end of the year and incorporate it with payment of the final dividend.

On a brighter note, the company has increased turnover by 27per cent, to £35.7m from £28.1m, owing to higher coal sales, and it appears that the Water Management Plan is on track at Muir Dean, allowing for full production to resume later in the summer.

Cape, the UK support services company, has announced new and the renewal of existing contracts in the Middle East, worth up to £37m.

The company operates in sectors such as natural resources and energy, and is responsible for supplying a number of services, including industrial scaffolding, thermal insulation and fire protection.

One of the most notable contracts appears to be a £22.5m agreement to preserve Qatargas' onshore and offshore facilities.