Updates from TUI Travel and Polymetal

The FTSE 100 climbed almost 30 points yesterday, rising 0.45% to 6,656. Kingfisher was the day's biggest climber, up +6.68% to 349.7p while Tesco shares slipped -1.54% to 367.2p.

Overnight in Asia, Japanese shares leap back with the Nikkei rising +2.05% to 13,867. %VIRTUAL-SkimlinksPromo%

A subdued day for company numbers. We commence with LondonMetric, the first set of results since the merger of London & Stamford Property Plc and Metric Property Investments plc.

Profit before tax claimed is £39.9 million (adjusted for exceptional items) up +105% (31 March 2012: £19.5 million) while the final dividend declared of 3.5p per share will be paid on 12 July 2013, bringing the full year dividend to 7.0p (2012: 7.0p).

"We are undertaking," says chairman Patrick Vaughan, "a reduction in our residential portfolio, which has demonstrated strong capital growth but does not support our dividend policy, and have already agreed the sale of 116 units."

Next, TUI Travel. The leisure operator says, subject to shareholder approval, there is a commitment to purchase 60 narrow-body Boeing 737 MAX aircraft at "a significant discount" as part of its fleet renewal strategy.

At current list prices, the value of 60 Boeing 737 MAX aircraft that TUI Travel is committed to buying comes in at $6.09 billion (GBP £4 billion).

"This multi-billion pound investment" says chief exec Peter Long, "in the B737 MAX - representing the future generation of more fuel-efficient aircraft for our short and medium-haul programmes - will be a further driver in delivering this."

Finally, Polymetal International claims it has received the relevant regulatory approvals for the completion of the remaining 75.01% of CJSC Nevyansk Group ("NG") which it did not already own. NG's wholly-owned subsidiary holds platinum mining and exploration licences in the Svetlobor area.

Polymetal has acquired the 75.01% stake from CJSC VTB Capital for US$6.9 million in cash plus interest from the date of VTB Capital's acquisition at the rate of 7.25% p.a., equalling approximately US$ 0.2 million.

Polymetal recently upped its full-year dividend following a bump in 2012 pre-tax profits. However the miner remains vulnerable to ejection from the FTSE 100 because the company's shares have plummeted following dives in the value of gold and silver.

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