Updates from AVEVA and JD Wetherspoon

A 30-point drop for the FTSE 100 on 6,799.6 on Thursday. TullowOil and Next were the biggest droppers, down 3.13% (to 697.50p) and 3% (to 6950p) respectively. The Next concerns focused on the uncertain retail outlook (could Next's extraordinary run be petering out?). In contrast, SSE shares leapt 2.77% to 1485p. ITV shares recovered more than 2% to 216.80p.

Across the water the Dow Jones dipped almost 20p points, taking it to 17,049, down 88 points on the week so far.

First off, an AVEVA trading update. The first half results are expected to show "material impact" from currency gusts and the the timing of engineering, procurement and construction rental renewals - all in, expected to hit revenues by £14 million.

As a result of these factors, the Group's reported first half revenue is expected to be in the range of £84-90 million, dependent on the timing of contract signings AVEVA says.

The timing of the renewals will result in more revenue falling into the second half of the current financial year compared to previous years says the company.

Next, there's full-year preliminary numbers out from J D Wetherspoon. Revenues climb 10% to £1,409.3m while operating profit climbs 3.8% to £115.6m. Earnings per share climb 4.9% to 47p.

However after exceptional items, operating profits leaps 26.3% to £115.6m while pre-tax profits jump 37.1% to £78.4m. In the six weeks to 7 September 2014, like-for-like sales increase 6.3%, with total sales up 11.4%.

The company reiterates its opposition to the VAT disparity between supermarkets and pubs, pointing out the continued level of pub closures.

Lastly, Sainsbury's ex boss Justin King has warned on the costs of retailers managing their costs were Scotland to go independent (John Lewis and Asda have also warned of price rises).

King told an interview with BBC economics editor Robert Peston that supermarkets spread the cost of their UK activities across the UK. King also worried about the level of future investment, should the Scots go their separate ways.

"I don't think," he told Peston, "we are going to see a supermarket - and retailers more generally - rushing to invest until they can have really good long-term line of sight."

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