The FTSE 100 nudges ahead 6.82 points at 6,909.68, despite being held back by several stocks going ex-dividend. Yesterday's gains on the index in response to a potential Italian bank bail-out plan were followed by a strong showing in the US and Asia overnight.
Troubled sports retailer Sports Direct (SPD) falls 8.5% to 288.3p on a 25% fall in first half pre-tax profit to £140m, largely as a result of unhedged exposure to sterling weakness.
Chairman Keith Hellawell launches a pretty extraordinary tirade against the media, unions and politicians for launching a 'campaign' against the company which has been heavily criticised for its working practices.
Outsourcing play Capita (CPI) warns on profit for a second time in three months, again blaming uncertainty in the wake of the Brexit vote, and announces plans to sell its asset services business to protect its balance sheet.
Underlying pre-tax profit is now predicted to be 'at least £515m' against previously lowered guidance of £535m to £555m with little recovery expected in 2017.
Utility National Grid (NG.) gains 0.84% to 917.1p as it agrees to sell a majority interest in its gas distribution division to a consortium of long-term infrastructure investors. The deal values the asset at £13.8bn (including debt) and will see £4bn returned to shareholders.
Bookies William Hill (WMH) and Ladbrokes Coral (LCL) are both in negative territory amid reports a parliamentary committee will recommend a crackdown on the use of fixed-odds betting terminals.
Affordable housebuilder MJ Gleeson (GLE) is down 5.2% to 552.5p as it warns the timing of sales in its Strategic Land division will see results in the first six months of its current financial year 'slightly below' the first half of the previous year.
Online groceries play Ocado (OCDO) falls 4.2% to 266.1p as fourth quarter sales growth dips slightly.
Lloyd's of London insurer Novae (NVA) dips 16.8% to 695p as it warns of a hit to its underwriting operations from larger individual risk and catastrophe losses, a hit to the value of its fixed-income portfolio and a £17m writedown due to a change in its accounting for deferred acquisition costs.
The full year combined ratio is expected at between 98% and 100%. Anything below 100% means an insurer is earning more in premiums than it pays out in claims.
Social care provider Caretech (CTH:AIM), a Shares key pick, gains 5.5% to 307p on full year revenue up 20% and a hike in the dividend.
Packaging firm DS Smith (SMDS) is up 2.5% to 405.8p on a 60% increase in first half pre-tax profit to £146m and a 15% hike in the dividend to 4.6p.
A build in assets under management from £7.3bn to £7.7bn in the first half helps asset manager Polar Capital (POLR) gain 1.6% to 292p.
Software play ServicePower Technologies (SVR:AIM) is ahead by a third at 5.5p as it confirms a recommended 6p a share cash offer from suitor Diversis.
Ceramic brake disc developer Surface Transforms (SCE:AIM) falls 15.8% to 20p as it blames increased overheads for a guided year-on-year increase in losses.