The morning news update with Diageo, Betfair and Abcam

FTSE 100

AstraZeneca (AZN) – has completed the strategic transaction to transfer the rights to Almirall’s respiratory franchise to the company.

Diageo (DGE) – has agreed with Casa Cuervo the acquisition of Tequila Don Julio and the early termination of Casa Cuervo’s production and distribution agreement for Smirnoff in Mexico. In return, Diageo has reached an agreement to sell Bushmills to Jose Cuervo Overseas for a net payment of $408 million to Diageo upon completion, expected in early 2015 subject to certain approvals.

FTSE 250

Betfair (BET) – Q2 revenue was up 22% to £119 million driven by growth in active customers and favourable sporting results.

Telecity (TCY) – reports year to date revenue growth of 9.4% and EBITDA margin remains strong at 46.9%.

Ophir Energy (OPHR) – confirms that a letter was sent to the Board of Salamander Energy confirming a proposed share exchange offer Confirms that it continues to be in discussions with Salamander.

Small caps

Abcam (ABC) – trading in the 2014/15 financial year has started well. Positive momentum in the second half of the last financial year is continuing.

Cloudbuy (CBUY) – a three year contract in Hong Kong with a global Financial Institution to provide an FI branded eCommerce marketplace available via desktop, tablet and mobile app has now been signed.

ServicePower Technologies (SVR) – has signed an extended contract with a leading data management company. The contract extension is worth approximately $4.5 million over 5 years.

World Careers Network (WOR) – pre-tax profits increased by 34% to £2,474,784 in the year to July.

Kea Petroleum (KEA) – net loss down from £8.41 million to £4.86 million in the year to May.