Pick of the early market news

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It's a very quiet start to the week which will see trading updates from Tesco and Sainsbury's provide further evidence of how the economy is doing. Today we have updates from exhibitions group ITE, boiler technology firm Sabien and banking and stockbroking group Numis.
The FTSE 100's 68.36 point fall on Friday, leaving the index at a closing level of 5128.48, completed its worst decline since the aftermath of the Lehman's collapse in 2002. The 14% decline since the beginning of July has wiped £212bn off the value of the top 100 firms' shares.

In the US, the Dow shed 241 points to close at 10,913, completing a 12% loss over the quarter, while the Standard & Poors 500 fell 29 to 1,131, a slide of 14.3% that was the index's biggest quarterly drop since 2008. This week sees rate decisions from the Bank of England and European Central Bank.

Sabien Technology, which makes boiler energy efficiency technology, reports sales rose 114% to £2.09m over the year. The company's preliminary results, published this morning, show profits after tax of £230,000. The statement also says orders are up 38% since 1 July.

Exhibitions Group ITE has posted a trading update showing a 17% increase in revenue, on a like-for-like basis, for the fourth quarter. Total revenues for the period were £21m. The statement says revenues for the full year are expected to be in the region of £154m.

In a trading update posted this morning, investment banking and stockbroking group Numis reports revenues are up 6% on the first half of 2011 and 45% ahead of the second half of 2010. The firm now operates across 15 market sectors with 140 corporate clients.

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