Market overview: 15 May

• International security solutions firm G4S said profits in the first three months of 2012 were, as expected, at similar levels to the corresponding period of last year.

• Russian steel giant Evraz said revenue, prices and sales volumes were all flat in the first quarter of 2012, with currency movements making operations more expensive.

• Quality control group Intertek has purchased Vigalab, a minerals testing laboratory in Chile.

• With three-quarters of the fiscal year in the rear view mirror, expectations for the full year at medical devices market Smiths Group remain in line with the guidance given at the half-year stage.

• Ophir Energy 's balance sheet has strengthened significantly since the end of the first quarter, helped by the oil and gas group's placing in March.

• Precision tool maker Renishaw said despite continuing global macroeconomic headwinds, it has seen good growth over the year to date and has started to see signs of an upturn in the electronics market.

• Laird , the electrical components manufacturer, has poached David Lockwood from BT Global Services to be its new Chief Executive.

• Property firm Great Portland Estates has sold over one hundred million pounds worth of London property in three separate transactions, putting its portfolio 14 per cent ahead of the December 2011 valuation.

• Fund manager F&C Asset Management has revealed the details of the second phase of its strategic review, which is focusing on the growth for the Wholesale, Consumer (Retail Funds and Investment Trusts) and Property businesses.

• Oil exploration firm Afren said profits rose considerably in the first quarter after significant oil finds.

• Babcock International , the engineering support services company, expects earnings in the current year to be ahead of previous expectations, thanks to its bulging order book.

• London property specialist, Capital & Counties Properties , said it had agreed a five year £70m credit line with banks BNP Paribas and HSBC.

• Unfavourable exchange rate movements have seriously slowed the organic growth sales rate this year at Spirax-Sarco Engineering , the peristaltic pumps specialist.

• House builder Redrow said that shareholders only took up a quarter of the £80m worth of new shares it offered them in April.

• Interim earnings at pubs group Enterprise Inns were a few fluid ounces short of a full pint but the market was cheered by the group's rapidly improving debt position.

• Essar Energy , the India-focused energy company, said it had refinanced a $450m bridging loan that was due to be repaid in December 2012.

• Drugs giant GlaxoSmithKline is to take full control of Cellzome, a company specialising in the study of protein structures and functions.

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