London's FTSE is off 13.66 points at 6,862.81, as appetite for risk remains subdued amid renewed concerns over Greece. Bucking the trend is luxury car dealer Inchcape (INCH), motoring 6.3% ahead to 787.5p after reporting its fifth consecutive year of double-digit earnings growth and a step-up in free cash flow generation. Like-for-like sales accelerated in 2014 and there's a positive outlook statement to keep investors happy too.
FTSE 100 copper miner Antofagasta (ANTO) falls 2% to 737.75p after a court ruled it must change a tailings waste facility, potentially triggering a major disruption to its flagship copper mine in Chile. We explain the situation in more detail in this article.
Prudential (PRU) falls 3.2% to £16.08 as chief executive Tidjane Thiam quits the life insurer in order to run Credit Suisse bank later this year. Prudential’s pre-tax profits increased 60% to £2.6 billion in 2014.
Mortgage lender and small business bank Aldermore (ALD) advances 12% to 215p in debut dealings, having priced its IPO at 192p, almost the top of the guidance range.
Esure (ESUR) dives 10.5% to 209.2p after being the latest insurer to report a profits fall. The car and home insurer’s pre-tax profits fell 12.8% to £103.3 million during 2014, as competition continued to force premiums down.
Language translation technology supplier SDL (SDL) skips 10p (2.3%) higher to 443p, as 2014 results showing a swing to pre-tax profit and a confident new year outlook trigger further earnings upgrades.
Online supermarket Ocado (OCDO) ripens 3.2p to 373.7p on a solid first quarter trading statement, showing retail sales 15.2% ahead at £252 million over the 12 weeks to 22 February, though the average order size is 2.4% down. CEO Tim Steiner expects Ocado will 'continue to growing slightly ahead of the online grocery market'.
UK shale play IGas (IGAS:AIM) is up 19% to 28.55p as it announces a farm-out deal with private chemicals group Ineos. Ineos gets a 50% interest in its North West assets and its entire working interest in its Scottish acreage in return for a cash payment of £30 million and promised investment of £138 million.
Digital marketing specialist Matomy Media (MTMY) is up 4.6% to 215p despite a 47% fall in headline pre-tax profits to $4.6 million. The profits slump reflects one-off costs associated with its July 2014 IPO and the amortisation of key acquisitions with revenues up 19% to $258.9 million and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) up 40% to $24.1 million.
The pressure put on oil prices by the rising dollar translates into a weak performance for the oil and gas sector with Tullow Oil (TLW) falling 5.3% to 327.9p.
Merchant bank Close Brothers (CBG) sheds 1% to £16.45p, as investors take some profits on strong full-year results. Adjusted earnings per share increased 19% to 58.2 p driven by modest loan growth in its banking division and a falling bad debt ratio.
Aim newcomer Aquatic Foods (AFG:AIM), a China-based marine snacks-to-frozen seafood supplier, puts on a penny at 58.5p after posting a positive year-end trading statement and flagging a strong start to 2015.
A company that teaches the military and police to fly drones loses altitude after raising a slug of cash at a 20% discount to yesterday's market price. Strat Aero (AERO:AIM) drops 16.3% to 9.63p as it raises £660,000 at 9p per share to help fund its expansion plans.
Chinese door maker Jiasen (JSI:AIM) retreats 3.8% to 25.5p after admitting it is having to cut selling prices and increase marketing in a bid to win 'lucrative' contracts. The shares have fallen 68% since we said to avoid the stock last October in this article. We highlighted significant risks that could weigh down on the share price, which proved the correct call.
Superglass (SPGH:AIM), the manufacturer of mineral wool products for thermal and acoustic insulation, slumps 25% to 3p, making it the biggest faller on the Aim market. The Stirling-based group falls on the back of a profit warning, blaming the ongoing failure of the Green Deal and Energy Company Obligation to deliver any meaningful volumes.
Window and door fittings manufacturer Tyman (TYMN) moves 1.7% higher to 323.75p on a 23.4% hike in underlying profit before tax to £41.6 million for 2014, sending earnings per share 35.7% higher to 18.6p.
Chinese lottery group DJI (DJI:AIM) tumbles 6.7% to 70p on news several lottery centres in China have temporarily suspended accepting online orders for lottery products while they undergo self-inspection. DJI says lottery sales will be reduced but insists it won't have a material impact on its full-year results for 2015.