Market overview: 14 May

• HSBC , which styles itself as the world's local bank, is to become a bit less local in parts of Latin America following the agreed sale of its operations in Colombia, Peru, Uruguay and Paraguay.

• Mining giant Polymetal International has sold its Veduga gold deposit in the Krasnoyarsk region of Russia for $20m.

• Outsourcing specialist Serco says it is on track to meet its 2012 full-year expectations but has warned that its first-half performance will reflect the challenging environment in the US.

• Lonmin , the world's third largest platinum producer, said production in the first three months of 2012 was little changed from a year earlier, despite losing 170,000 tonnes of production because of safety stoppages.

• Funeral services provider Dignity reported a modest rise in revenue and underlying operating profit in a relatively quiet start to the year.

• The Finance Director of FTSE 250 waste management group Shanks is to leave the board in the summer to join transport firm FirstGroup, the companies announced on Monday.

• The takeover of financial software firm Misys by Vista Equity Partners came a step closer on Monday after it passed a legal hurdle in Portugal.

• The seals business in North America was the star performer in the first half of the fiscal year of specialised technical products and services provider Diploma , but the group's top-line growth eased off in the second quarter (IC COMMENT).

• Chariot Oil & Gas , an Africa-focused exploration company, has reported that the Tapir South well (1811/5-1), offshore Namibia, failed to find commercial hydrocarbons, and will now be plugged and abandoned (IC COMMENT).

• Design and engineering consultancy group WS Atkins has turned to the US fixed-interest market to raise cash to repay drawn funds under the group's existing banking facility and for general corporate purposes.

• Building materials supplier Travis Perkins said it made progress in the first quarter of the year although momentum was hit by a particularly rainy April.

• Exploration firm Afren said it had found significant oil reserves at its Ebok North Fault Block well, offshore Nigeria.

• Bingo, casino and online gaming company Rank Group has made a conditional agreement to acquire Gala Casinos from Gala Coral Group, making it the largest casino operator in the UK.

• Essar Oil, Essar Energy 's 87.09 per cent-owned Indian oil subsidiary, saw a sharp drop in earnings in the year to March 31st due to the reversal of a sales tax benefits and a planned plant shutdown.

• A third of UBM shareholders have voted against plans for executive pay at the firm, making it the latest in a growing list of big firms to suffer backlashes against their remuneration reports.

• Struggling tour operator Thomas Cook has posted details to shareholders of its proposed disposals which it says are vital to the continued existence of the company.

• Fresh life has been breathed back into the Co-op's bid to takeover 632 Lloyds branches after reports said a new deal was put to the City Regulator.

• Kazakhstan-focused Max Petroleum said it had hit an estimated 36 metres of net oil pay at its appraisal well in the Asanketken Field.

• AIM-listed satellite operator Avanti Communications said its revenue was in line with house broker estimates for the financial year to 30 June 2012.

• Bayfield Energy lost a fifth of its value in morning trading on Monday after admitting that production at the Trintes field in the first quarter was constrained by a number of operational and technical factors.

• All resolutions were passed at the annual general meeting (AGMs) of the insurance group RSA , including the vote on the remuneration report.

• Yahoo has confirmed that its now former Chief Executive, Scott Thompson, has resigned from his leading role following accusations that he falsely added a science degree to his CV.

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