Market overview: 4 May

• Nationalised lender Royal Bank of Scotland is to repay the final tranche of notes issued under the government's Credit Guarantee Scheme next week, after posting a profit of more than a billion pounds in the first quarter of 2012.

• Oil giant Tullow has revealed disappointing results from the Teak-4A appraisal well in the West Cape Three Points Block, offshore Ghana.

• Interserve has acquired Business Employment Services Training Limited, a major UK provider of training and development for job-seekers and employers.

• Power systems group Rolls-Royce didn't give much away in its first-quarter interim management statement on Friday but reassured that trading since the start of the year has been consistent with previous guidance.

• Budget airline easyJet saw a strong year-on-year increase in passenger numbers in April, whilst flying fuller planes.

• Insurance group Lancashire Holdings ' performance was hurt by the Costa Concordia shipwreck in the first quarter, while pay costs have rocketed (IC COMMENT).

• There are signs of hope for struggling high street entertainment chain HMV as it looks to capitalise on the demise of its rival Game (IC COMMENT).

• Laird , which makes antennas and heat protection components often used in tablet computers and smartphones, says difficult trading conditions have continued into the first quarter, although it expects a 'seasonal uplift'.

• Phoenix Group , the zombie insurance fund consolidation company, is on course to deliver on its stated targets for 2012 after what it hailed as a solid financial performance in the first quarter.

• Budget airline BMI Baby will be grounded as of September, its owner International Consolidated Airlines Group has admitted.

• Rentokil Initial saw revenue growth accelerate in the first three months of 2012 but operating profits fell year-on-year mainly as a result of higher central costs and losses at its City Link franchise.

• The financial year just ended was one of two halves for Scottish Mortgage Investment Trust , with the second being much more to management's liking.

• Sly Bailey, one of the highest profile British Chief Executives of the last decade, is to leave her post as boss of Trinity Mirror after bearing the brunt of shareholder anger over pay.

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