The market fell this morning ahead of key US jobs data due out later. After climbing 1.8 per cent on Thursday, the FTSE 100 index was down 64.7 points, or 1 per cent, at 6,129.4.
IC TIP UPDATES:
Plant Impact (PIM) shares rose 8 per cent in early trading following a bullish full-year trading update from the agricultural bioscience company. Revenues over the course of a 12 month period nearly doubled, despite ongoing weaknesses in Northern Europe. Financial results are due in October when the group should report a move into the black. We still rate the shares as buy.
KEY STORIES:
Aim-listed GVC Holdings (GVC) has trumped rival 888's (888) recommended offer for stricken group Bwin.Party Digital Entertainment (BPTY). GVC has offered £1.1bn and Bwin's board confirmed it has officially switched its recommendation from 888 to endorse the new offer from GVC to shareholders.
HSBC (HSBA) has decided not to call its ring-fenced retail operation Midland Bank, and struck for the more esoteric title of HSBC UK. Underlying this underwhelming brand shift is a discussion at the about whether this unit can be kept under the group's wing, or needs to be hived off, in response to a regulatory deadline to split retail and investment banking operations.
Aim newcomer Gear4music (G4M) has released its inaugural trading statement as a public company. The online retailer of musical instruments isn't due to release interim results until late October, but said total sales rose 43 per cent in the six months ended August. The group raised £10m in an IPO in June.
OTHER COMPANY NEWS:
AstraZeneca's (AZN) blood thinner Brilinta has received a second approval from the US Food and Drug Administration (FDA). The drug was originally approved by the FDA in 2011 for patients with a history of, or at risk of, heart attack. Now the regulator has said patients can continue using a lower dosage of the drug beyond the first year of treatment.
Half-year results from software group EMIS (EMIS) today show revenues up 17 per cent to £77.8m, with a 7 per cent improvement in operating profit. Earnings per share rose 9 per cent while the interim dividend moved up 15 per cent to 10.6p.
