Shares in Easyjet have surged after announcing plans to offer limited all-inclusive passenger tickets for the first time in its 18-year history. Some corporate passengers will be entitled to choose their seats, place their bags in the hold, and pay by credit card. The airline claims its new all-inclusive fare will be lower than buying the same extras on top of their standard ticket. The airline’s head of sales Ruth Spratt said the move was part of a campaign to increase business travel numbers.
Glencore Xstrata, +3.56%
Newly-merged mining giant Glencore Xstrata announced today that its fusion will create synergies allowing it to save at least $2.0 billion (1.5 billion euros) next year. The group, which came into being with a mega merger in May between Swiss commodities giant Glencore and Xstrata, a Switzerland-based mining company, thus expects to easily surpass the some $500 million in savings it had initially expected to draw from the fusion.
Ashmore Group, + 6.78%
Record subscriptions helped emerging markets asset manager Ashmore to drive strong net inflows into its funds in the year to June. Strong net inflows of $13.4bn (£8.5bn) led to a 22% increase in assets under management to $77.4bn during the year. Net revenue of £355.5m was 7% higher than the prior year and well ahead of consensus forecasts, with pre-tax profit lifted 6% to £257.6m and diluted earnings per share 11% to 28.69p.
Fenner has reported a successful end to its financial year and anticipates that its financial results for the year ended 31 August 2013 will be in line with expectations. The Group’s balance sheet remains strong. Net debt at 31 August 2013 was better than expected at approximately £125m, having benefitted from the timing of payment of capital expenditure, reduction in working capital and exchange rate movements.
Output was 16,851 ounce of gold in the three months to August 1, compared with guidance of 13,500 to 14,500 ounces, while cash operating costs were an impressive $755 an ounce, well ahead of the slated $950 to $1,000 an ounce. While performance was well ahead of forecasts, Orosur says it still expects year-end production to be in line with earlier predictions of 50-55,000 ounces of gold mined at a cash operating cost of US$850 to US$925 an ounce.
GlaxoSmithKline fell the most in 20 months after U.S. regulators published draft guidance that clears the way for generic versions of the company’s best-selling medicine. Glaxo declined as much as 3.6 percent, the biggest intraday drop since Jan. 9, 2012.
Whitbread, the leisure operator, saw a slowdown in growth in the second quarter of its financial year, with total like-for-likes in the 11 weeks to 15 August up 2.1% against a 2.6% increase across the half-year.
Oxford Instruments, -5.96%
Share price plummeted after Oxford Instruments said it sees its full-year performance weighted to the second half of the financial year. In the current year, average monthly orders in Oxford’s Nanotechnology Tools sector were ahead of last year in Asia but were behind in North America and Europe as government agencies in these territories examine their spending on Research and Development.
ILX Group, -11.39%
ILX Group currently involved in proposed Acquisition Of Progility Pty Ltd For £15.97 Million. ILX, the training, consultancy and recruitment group, proposes to transform the scope and scale of the Group’s activities in project management, consulting and implementation and capitalise on its knowledge and experience in this sector through the acquisition of Progility Pty Ltd, a communications solutions services provider.
Brightside Group, -14.57%
Markerstudy Holdings have revised their potential cash offer for Brightside Group. Markerstudy has informed Brightside Group Plc that any offer would likely be in the range of 20P-22P per share. Markerstudy has requested an extension to the timetable of four weeks for the offer.