Market overview: 10 May

• The reshaping of global banking colossus HSBC continues with the group confirming it is talks about the possible sale of its operations in Colombia, Peru, Uruguay and Paraguay.

• Risk, savings and investment management provider Legal & General has appointed its Chief Financial Officer Nigel Wilson as its new Chief Executive Officer, replacing Tim Breedon when he steps down from the board next month..

• Slightly better than anticipated earnings could not shield BT Group from the bears on Thursday as hopes were dashed of a dividend bonanza in the wake of the telecoms giant sorting out its pension overhang.

• SuperGroup' s young fashion brand Superdry said like-for-like retail sales were flat in the 13 weeks to 29 April 2012 in what it described as a "disappointing end" to a challenging year.

• Experian , the credit check and financial data company, has reported underlying earnings below expectations for the full year to the end of March, while announcing the sale of its PriceGrabber price comparison service (IC COMMENT).

• South African financial conglomerate Old Mutual said it saw positive net client cash flows throughout the group in the first quarter, while sales continued to be strong in emerging markets.

• Beazley , the specialist insurer, has managed to avoid any major claims during the first quarter, while losses from the Thai floods of last year have not increased (IC COMMENT).

• Gulf Keystone has responded to what it calls the "continued and unfounded speculation" on various social media sites regarding an alleged planned placing of the company's shares at 160p per share, saying that while it would not usually comment it "feels it must respond" and is currently seeking legal advice on the matter (IC COMMENT).

• Mining group Eurasian Natural Resources Corp oration (ENRC) saw a 'significant' decline in group revenue in the first three months of 2012 mainly as a result of a strong comparator and falling commodities prices.

• A consortium consisting of quoted infrastructure investment company International Public Partnerships plus Amber Infrastructure and Drapers Gardens has been appointed by Ofgem as the preferred bidder for the long-term licence and operation of a further offshore transmission project.

• Business software firm Micro Focus International said earnings for the financial year just ended will be near the top end of the range of forecasts from investment analysts who follow the company.

• House builder Barratt Developments has hailed an 'improved performance' in the third quarter as it benefited from a strong spring selling season.

• The board of gold miner African Barrick has given its approval for the expansion of the processing plant at Bulyanhulu, Tanzania.

• Technology-focused retailer Dixons Retail turned in a slightly better-than-anticipated performance during the year ended April 28th, despite like-for-like sales falling three per cent year-on-year.

• Indonesia-based coal miner Bumi has posted a nine per cent year-on-year rise in first quarter coal production at 20m tonnes, despite its operating performance being affected by high levels of rainfall.

• JAB, the biggest shareholder in Anglo-Dutch consumer goods firm Reckitt Benckiser , has sold around a third of its holding in the firm, seemingly to fund a takeover in the US.

• Property group Great Portland has taken advantage of strong demand for its bonds in the US to boost its coffers.

• Like-for-like revenue growth has picked up in recent weeks at bingo, casino and online gaming company Rank Group .

• Jobs are being slashed and legal battles continue at inter-dealer broker Tullett Prebon .

• Investment management firm Rathbone Brothers said the first quarter of 2012 was one of growth, despite challenging investment conditions.

• Andrew McNaughton, the Chief Operating Officer of Balfour Beatty , is to assume the role of deputy Chief Executive Officer at the infrastructure specialist when the current seat-holder, Anthony Rabin, retires at the end of June.

• Trinity Mirror surged in morning trading after revealing progress in ending its dependence on the 'burning platform' of newspapers - even as Chief Executive Sly Bailey prepares to leave.

• Engineering services firm Wood Group says it has seen growth across all its divisions in the first half of its financial year although downstream operations (building refineries to process oil and gas) are being hit by lower expenditure in the US.

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