The FTSE 100 keeps chugging along even after Singapore's central bank slashed inflation forecasts and the gold price tumbled to a five-year low. Click here for The Trader Nicole Elliott's take on this morning's developments.
IC TIP UPDATES
A 4 per cent slide in underlying sales at Renold (RNO) sent shares in the industrial chains and power transmission products group down 4 per cent. But self-help measures meant margins widened and adjusted operating profit rose. Buy.
Shares in Anglo American (AAL) dipped 1 per cent after the platinum miner said it expected first-half earnings from its Kumba Iron Ore subsidiary to fall by more than half to 192m (£123m). Buy.
NewRiver Retail (NRR) has completed three acquisitions totalling £121m, including its £69m purchase of nine retail parks and four development sites from a major foodstore operator. The deals were financed by its recent £150m equity fundraising. Buy.
Shares in Amino (AMO) leapt 8 per cent after the itnernet-connected set-top box maker posted a 56 per cent rise in adjusted operating profit. It also announced a £47m deal to buy Entone, a specialist in broadcast hybrid TV and connected home solutions. Buy.
Housebuilding and construction group Galliford Try (GFRD) inked a contract with Birmingham City University to build a £46m Conservatoire in central Birmingham. We reiterate our buy advice.
A mixed set of full-year figures sent shares in PZ Cussons (PZC) down 1 per cent. The international consumer products giant's like-for-like sales and operating profit rose 2 and 3 per cent, respectively, but trading was tepid in the key Nigerian market. Buy.
Healthcare and consumer marketer Cello (CLL) said it expected to meet full-year expectations but warned that first-half operating profit would fall due to its signal division. The main reasons are recent investments in staff, timing of US revenues and a one-off contract last year. The news sent its shares down 4 per cent. Buy.
Shares in Charles Taylor (CTR) slid 4 per cent after the global life insurer revealed that Damian Ely, the operations chief, will become head of Charles Taylor Adjusting on New Year's Day. Buy.
Credit-check specialist Experian (EXPN) has sold Footfall, its retail intelligence business, for about £39m. The group is narrowing its focus on larger businesses and geographies where it can leverage its core strengths in data, analytics, software and expertise. Sell.
KEY STORIES
Shares in GVC (GVC) crept up 2 per cent as investors bet that the gambling group would mount an improved offer for bwin.party. The latter's board has backed an offer from 888 (888). GVC's management are now considering their options.
Shares in IG Group (IGG) slumped 6 per cent after the spread-betting specialist posted a 13 per cent decline in full-year pre-tax profits. The group's results were hit by the sharp appreciation of the Swiss Franc in January. Veteran chief executive Tim Howkins also said he plans to retire in October.
An 11 per cent rise in first-quarter sales and a 14 per cent rise in UK orders at AO WORLD (AO) sent shares in the online domestic appliances retailer up 9 per cent.
OTHER COMPANY NEWS
A bullish first-half update sent shares in blur (BLUR) up 18 percent. The number of buyers and service providers using the group's enterprise services platform and marketplace leapt 30 per cent to 65,000. Unilever and Home Retail Group - owner of Argos and Homebase - adopted its platform, and the amount of projects listed rose by a fifth.
Croda International (CRDA) posted a 7 per cent rise in full-year, adjusted pre-tax profits, driven by a 21 per cent increase in sales of new and protected products to about £146m. Investors sent shares in the Yorkshire-based chemicals group up 4 per cent.
Shares in Globo (GBO) climbed 4 per cent after the enterprise mobility software group revealed first-half trading ahead of market expectations. Cash profits jumped 55 per cent as GO!Enterprise revenue leapt 126 per cent to about €45m (£31.3m).
The European Commission has launched an in-depth review into metal packaging giant Ball Corporation's proposed takeover of can maker Rexam (REX). Competition regulators in the US and Brazil are still reviewing the deal. Ball's management expects the deal to close in the first half of 2016.
