Findel's Express Gifts to undertake £12.5m refund programme - FCA

Shares in Findel are down after the Financial Conduct Authority said its subsidiary, Express Gifts, will undertake a £12.5m customer-refund programme in relation to financial products it previously sold.

Findel said at the time of its interim results in November 2016 that it had already made provisions for this programme.

At 13:49 GMT, shares in Findel were down 1.7% to 202p.