Investors in peer-to-peer lender Funding Circle received good news as the firm said it was on track to meet expectations this year.

The company, which lends to small and medium-sized businesses, said its loans under management hit a record £3.7 billion in the last three months, up by almost a third on the same period last year.

However, the value of the loans it processed over the quarter - originations - fell 0.5% to £561 million.

Funding Circle has faced a turbulent year, and shares, which listed for 440p 13 months ago, are now fetching less than 110p - a fall of three-quarters.

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Chief executive Samir Desai said: "In the third quarter, loans under management reached £3.7 billion and projected returns for 2019 continued to show an improvement over recent years.

"We continue to manage the business prudently, which we are confident is the right course of action for the long-term growth and development of our business."

Funding Circle sets up amateur lenders with small loan-takers, allowing the former to sell on their parts of the loan if they want to cash out.

However, last month it was revealed that the time investors had to wait to cash out had risen to three months from just a few days in January.

The company has blamed "an uncertain economic environment" - a phrase used by Mr Desai again on Monday - as losses widen.

M&G could be a candidate for a place in the FTSE 100 when the list is next updated as the investment manager reached a market value of nearly £6 billion on its first day of trading.

Europe-focused M&G spun off from Prudential on Monday morning in a bid to separate from the rest of its parent's mainly Asia-focused business.

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The plan was to give shareholders more control over whether they want to invest in an insurer aimed at the UK and European markets, or Asia.

Prudential owners were given one share in M&G for every one they own in its former parent.

The shares reached 224.85p early on Monday afternoon, slightly below the expectations of some analysts.

The price would value the company at around £5.85 billion, which could be enough to earn it a spot in the FTSE 100, where Prudential shares are already listed.

M&G chief executive John Foley called the listing a "significant milestone" for the business he leads.

"Our independence and unique business mix means we are well-positioned to benefit from long-term economic and social trends that offer growth opportunities for many years to come," he said.

Prudential shares dropped 8.1% to 1,384p.

Shares in Micro Focus International dipped after reports that Canadian rival Open Text was weighing up a takeover bid were swiftly shut down.

Open Text issued a statement confirming that despite the press speculation, it "is not considering a potential acquisition of Micro Focus".

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Shares in the FTSE 250 firm have fallen by around 50% since July after it warned that revenue could slide by up to 8% for the full year, also impacting profits.

Kevin Loosemore, chairman of the company, also instigated a sell-off in July after cashing in around £11.6 million worth of shares in the business.

Micro Focus has since accelerated a strategic review of its operations in a bid to improve performance.

Shares in the IT firm were 5.2% down at 1,030.2p.