The Morning News Update with Fresnillo, JD Wetherspoon and boohoo.com

FTSE 100

Fresnillo (FRES) – signs a binding agreement for the acquisition of Newmont’s 44% stake in the Penmont Joint Venture, comprising the Herradura, Noche Buena and Soledad Dipolos mines, the Mega Centauro and Centauro Deep advanced exploration projects and a number of key exploration prospects, for a total cash consideration of $450 million.

FTSE 250

AVEVA (AVV) – first half revenue is expected to be in the range of £84-90 million, dependent on the timing of contract signings. The impact on revenue in the first half from currency and the phasing of rental renewals is expected to be approximately £14 million. 

Galiford Try (GFRD) – has, through its joint ventures, been appointed by Southern Water as a Delivery Partner for its AMP6 framework. The total contract value is £430 million and the appointment is anticipated to be worth approximately £215 million to Galliford Try.

JD Wetherspoon (JDW) – profits before tax and exceptionals up by 3.1% at £79.4 million in the 52 weeks to 27th July. Dividend maintained at 12p per share.

Small caps

boohoo.com (BOO) – Revenue for the half year is approximately £67m, up 31% compared with the same period last year or 36% on a constant currency basis. Confirms that it continues to trade in line with expectations for the full year to 28 February 2015.

Rangers International (RFC) – has agreed formal terms of settlement with former Commercial Director, Imran Ahmad regarding his current court action.  The sum agreed is significantly less than  the total amount which Mr Ahmad had been granted permission to arrest. 

Avanti Communications (AVN) – has announced a new contract with Orange Telkom Kenya, the national telecommunications operator of Kenya with over 2.8 million customers. Orange Telkom Kenya will use Avanti’s products to provide high speed data communications services to a variety of government and enterprise customers throughout Kenya. 

Ambrian (AMBR) – posts a profit before tax of $1.17 million for the six months to June, down from $1.31 million.

Naibu Global (NBU) – Profit before tax for H1-2014 was RMB 206.5 million (approximately £19.7 million), dividend scrapped due to capital investment.