The Morning News Update with HSBC, JD Wetherspoon and Lombard Risk Management

1 mins. to read

FTSE 100

HSBC (HSBA) – HSBC Bank (Cayman), an indirect wholly owned subsidiary of HSBC Holdings plc, has entered into an agreement to sell parts of its corporate and retail banking business in the Cayman Islands to Butterfield Bank (Cayman) Limited.

FTSE 250

JD Wetherspoon (JDW) – For the 10 weeks to 6 July 2014, like-for-like sales increased by 4.9%, and total sales increased by 10.3%.

Unite (UTG) – Unite UK Student Accommodation Fund, in which the Group has a 21% stake, has acquired a 2,904 bed student accommodation portfolio for £137 million. 

888 Holdings (888) – During the first six months of the year, 888 has continued to deliver a very strong performance and anticipates announcing EBITDA for the period significantly ahead of the comparable period in the prior year.  

Galliford Try (GFRD) – Profit before tax is expected to be at the upper end of the analysts’ current range of £92.8 – £95.2 million for the year to June.

Small caps

Turbo Power Systems (TPS) – has received further purchase orders from Bombardier Transportation worth US$3.4 million.

Alliance Pharma (APH) – Trading for the first half of the year has been in line with management’s expectations, with total turnover including share of joint ventures of approximately £22.5 million.

Lombard Risk Management (LRM) – Trading since the year end has been ahead of the same time in the previous year and the company remains on target to achieve the market growth forecasts for the current year. 

Ortac Resources (OTC) – has received a further batch of assay results from the drilling and trenching programme recently completed at the Andiamo Exploration Ltd (“Andiamo”) Haykota exploration concession area in Eritrea.

STV (STVG) – an agreement has been reached with the trustees of the company’s defined benefits pension schemes. The payment profile will be £5.5m in respect of 2014, of which £4.7m was paid in January 2014, and between £7.0m and £7.75m from 2015 to 2025 inclusive.

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