Updates from Vodafone and Essar Energy

The FTSE 100 dipped 43 points on Friday, ending the day at 6,116. This means the FTSE 100 is now at its lowest mark since mid January, thanks in part to growing mood sentiment from US Fed chairman Ben Bernanke that quantative easing is over.

More losses in Asia overnight with both the Hang Seng and Nikkei 225 retreating.

We start with preliminary full year numbers from Essar Energy. Group revenue climbs to US$27.3bn, up 24%, driven by higher refining volumes at Refining & Marketing India (Vadinar) and a full 12months contribution from R&M UK (Stanlow), says the company.

There's a pre-tax loss of US$163.2mn (15mths FY2012: loss of US$1,147.7mn), as higher operational EBITDA, says the company, was offset by higher interest and depreciation costs.

"The much higher margins seen at our flagship Vadinar refinery reflects the benefit of investment in increased complexity and capacity. Our Stanlow refinery has [also] achieved considerably improved margins," said Naresh Nayyar, Essar Energy Chief Executive Officer.

Next, Vodafone says it's hoping to snap up Germany's biggest cable operator, Kabel Deutschland, supplying Kabel Deutschland shareholders €87 per share in cash while valuing the entire fully diluted ordinary share capital of Kabel Deutschland at €7.7 billion (or £6.6 billion).

This is an improved offer on the €80 a share offered previously. Vodafone could still face competition from US-listed media company Liberty, though Vodafone's offer is a complete cash deal.

"Vodafone," said the company in a statement, "sees significant potential to accelerate the growth in Vodafone's and Kabel Deutschland's broadband, telephony and TV businesses by leveraging Vodafone's leading brand and by cross-selling to each company's customer base."

Finally, warehouse developer Segro has issued a statement regarding press speculation on the potential of a joint venture in connection with it's continental European logistics portfolio.

"Segro confirms that it is in advanced discussions with Public Sector Pension Investment Board regarding the contribution of the bulk of Segro's Continental European logistics portfolio to seed a joint venture."

It added: "Segro would manage the venture and would retain a 50% stake. The intention would be to grow the venture over time." Recently Societe Generale reiterated its Buy on Segro, upping its target price from 300p to 340p.