FTSE 100 fund manager Schroders (SDR) bucks the weak market trend, rising 1% to £24.57, after analysts at RBC Capital Markets set out their reasoning for a punchy £28.00 price target. Analyst Peter Lenardos says the firm should trade in line with peers due to double-digit EPS growth, diversification and the potential for bolt-on acquisitions.

Supermarkets titan Tesco (TSCO) ticks 2.85% higher to 287.85p as news of CEO Philip Clarke's imminent departure offsets the impact of another profits warning and further downgrades. Clarke will be replaced by long-serving and well-regarded Unilever (ULVR) man Dave Lewis in October, having endured a punishing time at the helm. Tesco also warns that trading conditions have worsened since its first-quarter update (4 Jun). A tough grocery market twinned with increasing investment to win back customers means first half sales and trading profit 'are somewhat below expectations'.

Profitable outdoor clothing and footwear designer Fraspens, the third biggest outdoor clothing brand by sales in China, according to Euromonitor, announces its intention to float on the junior AIM market next month.

Acquisitive veterinary surgeries operator CVS (CVSG:AIM) skips 2.1% higher to 329p on a positive year-end update showing like-for-like sales up 6.9% in the year to 30 June. Shares highlighted CVS' investment attractions in an analysis of the pets, vets and animal medicines industry in May.

Branded retail products developer LiteBulb (LBB:AIM) leaps 5.7% to 0.93p on news it has bagged over £4 million of orders. New customers include retailers Boots, Next (NXT), Marks & Spencer (MKS) and Sainsbury's (SBRY).

Mobile money network Monitise (MONI:AIM) rises 2.4% to as it extends its global cloud commerce partnership with US IT giant IBM (IBM:NYSE). That's some relief after a revenue warning earlier this month. 

Investors seem to be warming to recovery potential at x-ray kit designer Kromek (KMK:AIM) as the dusts settles post its shock profits alert in March. The shares rally 8% to 55.5p, back beyond 51p IPO price. Shares recently interviewed CEO Arnab Basu.

Commercial property investor Schroder Real Estate Investment Trust (SREI) gains 1.7% to 52.6p on net assets rising 4.3% to 50.7p a share in the second quarter.

Brickmaker Michelmersh (MBH) barely budges, up just 0.7% to 73.25p despite interims revealing an 8% rises in revenue and operating margins.

Issue Date: 21 Jul 2014