The FTSE 100 is flat 7,204.93 as there are few large cap corporate news announcements to driving trading volumes.

News that North Korea has invited President Trump for a meeting to discuss nuclear weapons firmed up Asian markets with the Shanghai Composite Index up 13 points to 3,302.

On the UK market, gambling company GVC (GVC) rises 2.6% to 923.5p after announcing its net gaming revenue increased by 17% to €925.6m for 2017.

GVC’s EBITDA was up 40% to €239.5m with a 13% increase in its full year dividend to €0.34.

Satellite communications company Inmarsat (ISAT) drops 4.7% to 441.9p as it proposes a dividend cut for 2017. Pre-tax profit also dipped by 23.2% to $229.8m for the year ending 31 December 2017.

FTSE 250 building products supply company SIG (SHI) declines 2.3% to 146.3p despite full year results being ahead of expectations partially due to a property disposal. Investors are probably worried about comment from management that the UK outlook is ‘increasingly challenging’.

Waste-to-product company Renewi (RWI) sheds 5.1% to 84.8p after saying it expects future losses on private finance initiative contracts at sites including Barnsley, Doncaster and Rotherham. In total, including onerous contract provisions, the company has lost £73m. However it says that this will have ‘no material impact ....on the group’s cash flow or banking covenants’.

Drinks company Conviviality (CVR) falls a further 17.4% to 101.6p following yesterday's profit warning. The company had made ‘a material error’ in its financial forecasts and suffered margin weakness.

JVC, a provider of administration services to funds, corporate and private clients, has announced its intention to float on the London Stock Exchange. Admission to the market is expected to take place at 8am on 14 March.

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Issue Date: 09 Mar 2018