The Morning News Update with Rio Tinto, Marstons and Fastjet

FTSE 100

Rio Tinto (RIO) – has completed the sale of Rio Tinto Coal Mozambique to International Coal Ventures Private Limited following the fulfilment of all conditions precedent and receipt of the necessary regulatory approvals.

FTSE 250

FirstGroup (FGP) – Trading for the first half was in line with management’s expectations. Also announces that it has been informed by Transport Scotland that it has not been awarded the new ScotRail franchise.

Marstons (MARS) – has made sound progress this year and expects to report underlying operating profit broadly in line with expectations.

Unite Group (UTG) – the estimated net asset value of the Unite UK Student Accommodation Fund at the end of the third quarter was £903.8 million, reflecting an underlying increase in value during the third quarter of 2.1% and a £17.8 million equity issue.

Small caps

EMED Mining (EMED) – Q3 operations update. Final permitting remains on track with the Mining Permit for Rio Tinto expected to be received before year end.

Fastjet (FJET) – has experienced recent operational issues in Tanzania affecting its flight programme. A combination of bird strikes and maintenance delays has resulted in a number of fastjet flights being delayed and others being cancelled. These have now been resolved and normal operations are expected to resume tomorrow.

Phorm (PHRM) – has raised £4.47 million at 11p per share for working capital purposes.

21st Century Technology (C21) – has been awarded a four year contract worth 12.6m SEK (approximately £1.1m) by one of the largest passenger transport operators in Sweden to support on-vehicle mobile surveillance, safety and communication systems across their fleet in Stockholm.

London Mining (LOND) –  given financing issues believes that there will be little or no value remaining in the equity of the company and the other listed securities of the group.