Updates from Tullow Oil, ABF and Experian

The FTSE 100 took a dramatic 153-point hit on Wednesday, down 2.35% in total to 6,388.4. The wipe-out was all over oil and mining stocks with Glencore slumping more than 9% to 244p and Anglo American right behind at 8.9% at 1042p. BHP Billiton tumbled more than 5.3% to 1285p. Risers were few, though Royal Mail managed a 1.4% surge.

The US Dow Jones wasn't as badly hit, but it still ended the day down more than 1%, taking an 185-point hit to 17,427 points with JP Morgan Chase down almost 3.5%.

Let's commence with an update from hard-hit Tullow Oil. Tullow says expects to report revenue of $2.2 billion, gross profit of $0.6 billion and pre-tax operating cash flow of $1.5 billion, underpinned it claims by the strong performance from West Africa oil production.

"These results, versus the prior year, have been impacted by the oil price decline and lower gas production following asset sales in Europe and Asia," it said in a statement this morning.

Tullow expects a write-off of $0.4 billion ($0.3 billion post-tax) for 2014 exploration activities - mostly relating to Norway, Mauritania and Ethiopia.

Next, an update from credit info operator Experian. In the three months to 31 December 2014, total revenues were down 1%, at constant exchange rates growth was 2% and organic revenue was unchanged it says.

Its credit services business performed well, with strength across all regions, including big markets in the US, Brazil and the UK. The plans for its North America Consumer Services are on track it claims.

In the UK, Experian says it saw gradual improvements in Credit Services and Decision Analytics, "both of which delivered organic revenue growth of 3%. In Credit Services, we saw good momentum in both consumer information and business information."

Lastly, Primark (and Twinings and Silver Spoon owner) ABF. Group revenue for the 16 weeks ended 3 January 2015 were 3% ahead of the same period last year at constant currency, and 1% ahead at actual exchange rates.

Sales at Primark were 15% ahead of last year at constant currency buoyed by increased retail selling space and high sales densities in stores opened during the last year, it claims. Exceptional performance from France too.

However currently volatility is taking a bite out of profits: ABF estimates adjusted operating profit for the full year will see a reduction of some £15m.

Lastly, new pensioner bonds paying up to 4% have been released for sale.

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