The morning news update with United Utilities, RBS and Alkane Energy

FTSE 100

United Utilities (UU.) – Current trading is in line with the group’s expectations for the six months ending 30th September 2014.

WPP (WPP) – announces the launch of a new joint company in China, Polestar Co. Ltd., a startup company offering integrated e-commerce solutions in China’s booming e-commerce sector.  

Royal Bank of Scotland (RBS) – announces the final pricing of the initial public offering of Citizens Financial Group, Inc. The offer comprises 140 million shares, or 25%, of Citizens common stock at a price per share of $21.50.

FTSE 250

Kazakhyms (KAZ) – has awarded the contract for the construction of the sulphide concentrator at Aktogay, the Group’s second major copper growth project, to Non Ferrous China

Small caps

Symphony Environmental (SYM) – posts a profit before tax of £0.08 million for the six months to June, up from a loss of £0.22 million.

S&U (SUS) – Profit before taxation up 28% to £11.3 million in the six months to July.

Accumuli (ACM) – has continued to make good progress through the first part of the current financial year.  Trading results are in line with management’s expectations. 

Alkane Energy (ALK) – has been successful in winning some of the first demand side balancing contracts for the 2014/15 winter season.  These contracts are part of National Grid’s Demand Side Balancing Reserve (“DSBR”) programme which is designed to provide additional balancing services to the UK electricity market during periods of high demand and will provide a new income stream for Alkane.

First Property (FPO) – continues to trade well and in accordance with expectations.

Clinigen (CLIN) – Reported pre-tax profits up by 47% to £21.3 million in the year to June.