Markets drift as G4S takes £50m hit for Olympic failure

The FTSE 100 is drifting into lower territory this morning, with miners and Olympic security firm G4S all acting as a drag on the wider market.

Amid another low-volume trading session, markets are making a lacklustre start to the week, with the FTSE 100 down 5 points at 5,771. Weighing on the blue chip index this morning is G4S, which revealed it had taken a £50m hit over its failure to fulfil the terms of its deal with the government to provide security at the Olympic Games. G4S said in a statement: "We were deeply disappointed that we had significant issues with the London 2012 Olympics contract and are very grateful to the military and the police for their support in helping us to deliver a safe and secure Games." Its s...