Renishaw shares fall after weak Asia demand prompts forecast cut
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(Reuters) - Shares of Renishaw Plc fell about 12 percent on Thursday after the British precision engineering group cut its full-year profit forecast, saying a slowdown in demand for its products in Asia would continue through the year. The company, which supplies parts used in a range of products from jet engines to medical equipment, said it faced a slowdown in demand in Asia for its encoders - components which are used to determine position, speed or direction.Renishaw had warned in January..