Updates from Intertek, E.On and Bovis
A 37-point dip for the FTSE 100 on Thursday - it ended at 6,840.8 points - with easyJet taking the worst hit, down 6.74% to 1550p. BA owner IAG saw its shares descend steeply, down 5.97% to 365.70p. ITV shares sank 5.30% to 169.60p.
But better news for Morrisons which saw its shares recover 4.53% to 205.20p. Tesco shares also rallied, up 2.11% at 302.55p. %VIRTUAL-SkimlinksPromo%
We start with a significant £12m Ofgem mis-selling penalty for energy giant E.On on mis-sellling concerns and poor sales practices. Any E.On energy customer who thinks they may have been mis-sold an E.On account should get in touch with E.On (details below).
E.On will pay around £35 to 333,000 customers who are recipients of the Warm Home Discount. This redress package will benefit pensioners, disabled and low income families. E.On has acknowledged the failings.
Ofgem has imposed nearly £100m in fines and redress on energy companies for rule breaches, including £39m for mis-selling.
Next, an interim from Intertek. The variable market conditions in the second half of 2013 continued into the first four months of 2014 Intertek says, resulting in decent growth in its key product-related business lines, but weaker in the energy infrastructure market.
Total revenues grew 3.6% in the period comprising organic growth of 0.3% and 3.3% from acquisitions made in 2013 and 2014. Operating margin improved slightly as the Group benefitted from on-going restructuring activities.
"We continue," says chief exec Wolfhart Hauser, "to anticipate improvement in growth and profitability in the second half of 2014 as market conditions are expected to improve and comparatives become easier."
Lastly, an update from Bovis - its AGM is today - for the period 1 January 2014 to date. There's a 78% increase in private reservations for 2014 delivery including 253 units from innovative Private Rental Sector deals to 2,096 (2013 comparative: 1,176) it says.
House build production is stepping up to meet increased sales activity: 80% more homes were built in the first four months of 2014 compared to the same period in 2013 it adds.
"The outlook for the Group," says Bovis, "continues to be very positive as a result of the land investment made to date which will enable the delivery of strong shareholder returns in the future."