Updates from Tesco, Cranswick and BTG

The FTSE 100 saw some recovery on Friday after Thursday's steep falls: shares pulled up more than 1.25% to 6,527.9, an 81.5 point rise. easyJet shares soared 6.42% to 1459p while BA owner IAG surged almost 5% to 365.20p. Cruise operator Carnival bobbed 4.31% higher to 2444p. There was also strong rises for Shire and ITV.

Tesco shares though came under attack again, down 3.40% to 172.15p - a 12-month low. The Dow Jones, on the other hand, rose 1.24% to 17,009, a 208.6 point leap.

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First off, a trading update for the last six months from food producer Cranswick. Trading during the first half of the half is in line with Board expectations with revenue in the six months in line with the same period last year.

Growth across most product categories offset lower sales of fresh pork. Operating margins in the first half are expected to be similar to those achieved in the previous financial year as a whole, Cranswick claims.

"Market conditions," it says, "through the second half of the year are expected to remain competitive, however with a strong Christmas trading period anticipated in the third quarter of the financial year."

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Next, a six-month update from specialist healthcare company BTG, which expects full year revenues to be around the top end of its guidance range of £330m to £345m, despite tough foreign exchange movements.

Its Specialty Pharmaceuticals delivered a strong performance it claims with licensing revenues increasing owing to continued growth in royalties from Johnson & Johnson's treatment for advanced prostate cancer, Zytiga®.

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"We have made good progress across the business during the first half of the year. We are pleased with the controlled US launch of Varithena®, with great feedback from customers and sales building gradually, in line with expectations."

Lastly, embattled Tesco says Richard Cousins and Mikael Ohlsson will join the Board of Tesco on 1 November as Non-executive Directors. Cousins has been Group CEO of Compass Group PLC since 2006.

Mikael was, until September 2013, CEO and President of the IKEA Group and is a Non-executive Director of Volvo Car Corporation, Ikano S.A. and Lindengruppen. Mikael was also a non-executive Director of Reckitt Benckiser Group PLC.

However Tesco shares remain under huge pressure, not helped recently by well-known US investor Warren Buffett claiming investing in Tesco was a "huge mistake". Tesco has, by some margin, been the worst FTSE 100 performer in 2014.

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