The Morning News Update with Tesco, Soco International and ASOS

FTSE 100

Tesco (TSCO) – profits warning. On the basis of changes and investments made to date now anticipates group trading profit for the financial year ending February 2015 will not exceed £1.4billion.

Land Securities (LAND) – announces the sale of The Centre and Almondvale West Retail Park, Livingston to HSBC Alternative Investments Limited as part of its Club Deal programme, together with Hines acting as asset manager, for £224.1 million.

AstraZeneca (AZN) – MOVENTIG® (naloxegol) has been granted Marketing Authorisation by the European Commission for the treatment of opioid-induced constipation in adult patients who have had an inadequate response to laxatives.

FTSE 250

Soco International (SIA) – RC Equipoise has completed its evaluation of the Block 16-1 Te Giac Trang field offshore Vietnam, which confirms the company’s long standing view of the size and production potential of the TGT field.

Victrex (VCT) – pre-tax profits up by 9% at £102.7 million in the year to September. Full year dividend up by 5% at 45.15p per share and a special 50p payment proposed.

Small caps

NetDimensions (NETD) – has signed a new products and services contract with one of the world’s largest manufacturing groups. First-year invoiced sales for the Europe-headquartered client are expected to be in excess of €1 million.

ASOS (ASC) – total group revenues up by 12% at £252.2 million in the three months to November.

Cello (CLL) – announces the acquisition of Worldwide Promedica, a San Francisco based market research firm serving pharmaceutical and biotechnology companies, for an an initial $700,000.

First Property (FPO) – Fprop Opportunities, its Polish-focused fund in which the Group is a 76.2% shareholder, has completed the refinancing of the investment it made on 19th September in a special purpose limited liability company which owns a tenanted office building in Warsaw.

Pressure Technologies (PRES) – Underlying operating profit of £7.8 million up 138% in the year to 27th September. Final dividend up by 8% to 5.6p per share.