The morning news update with AstraZeneca, Petra Diamonds, Thomas Cook and ASOS

FTSE 100

AstraZeneca (AZN) – with Eli Lilly and Company announces an agreement to jointly develop and commercialise AZD3293, an oral beta secretase cleaving enzyme inhibitor currently in development as a potential treatment for Alzheimer’s disease.

FTSE 250

Petra Diamonds (PDL) – the 122.52 carat blue diamond recovered from the Cullinan mine in June has been sold for a value equivalent to US$27.6 million.

Crest Nicholson (CRST) – As at 5th September, all reservations required for 2014 legal completion have been secured and the business expects to deliver an approximately 15% increase in volumes over the prior year.

Thomas Cook (TCG) – FY14 underlying EBIT expected to be between £315 million and £335 million, equivalent to growth of between 39% and 48%.

Small caps

ASOS (ASC) – due to the fire at the Barnsley distribution centre, the firm lost sales during the quarter to August of between £25m and £30m with a retail gross margin impact of c.200 basis points. After adjusting for insurance proceeds, expects profit before tax for the year to be in line with market expectations.

SCISYS (SSY) – has signed a contract with Airbus Defence and Space Ltd to deliver the rover vehicle visual localisation flight software for the European Space Agency’s 2018 mission to Mars.

Ortac Resources (OTC) – notes that the Slovak Parliament has approved an amendment to the Slovak Mining Law banning the use of cyanide leaching technology in gold processing.

IQE (IQE) – adjusted pre-tax profits up by 11% to £5.6 million in the six months to June.

Pan African Resources (PAF) – headline earnings decreased by 7.2% to ZAR452.0 million (2013: ZAR487.0 million) in teh year to June due to the low grade mining cycle at Evander Gold Mining Pty Ltd and lower average gold price received.