Cobham being probed by FCA

FTSE 250 aerospace and defence group Cobham has been referred to the Financial Conduct Authority's enforcement division for investigation in connection with its handling of inside information prior to its trading update and announcement of a rights issue on 26 April 2016.

Cobham. which was informed of the move by the regulator on Friday, said it is cooperating fully with the FCA and will update the market on the outcome in due course.

It added that the proposed rights issue announced on 2 March 2017 remains on track.

At 1147 BST, the shares were down 3.6% to 124.50p.