Updates from Stagecoach and Bunzl

Some respite for stocks, with the benchmark FTSE 100 ending 73 points higher at 6,102. Yesterday's biggest riser was cruise operator Carnival, up +5.33%, helped by positive second quarter numbers. Rexam was the biggest loser, down -2.45%.

Overnight, the Nikkei 225 slipped -0.73% to 12,874 thought the Hang Seng climbed +0.98% to 20,050.

First off, Stagecoach and full year numbers up to 30 April. Pre-tax profits slip from almost £240m last year to £195.8m this year. Revenues climb from £2,590.7m to £2,804.8m. Current trading remains in line with management expectations, the company claims.

North America still remains the fastest-growing part of the Group, though it faces tough competition. Stagecoach recently announced its new overnight sleepercoach bus route between Scotland and London will commence in July, with prices starting from £15.

"This is another strong set of results, which are ahead of market expectations," said chief exec Martin Griffiths. "We have achieved ten years of sustainable growth, reflecting our successful strategy of targeting organic growth in our bus networks, rail franchise opportunities and selected acquisitions."

Next, a trading update for the six months up to 30 June from distribution and outsourcing company Bunzl. Overall trading is consistent with expectations it says with group revenue growth expected to be approximately 11%, with underlying revenue growth of about 2%.

"Group operating margin for the period," said the company, "is expected to be at the same level as the first half of 2012. The results will be impacted by a higher net finance cost resulting from increased acquisition spend, additional longer term fixed rate borrowings and the introduction of the revised accounting standard IAS19."

Bunzl recently completed four acquisitions with annualised revenue of around £150 million. Recently the company had its Overweight rating reaffirmed by JPMorgan Chase; Shore Capital Stockbrokers also reiterated a Buy rating on the stock.

Finally, Rupert Murdoch's News International has switched its name to News UK in an attempt to move away, seemingly, from the phone-hacking scandals and other concerns, including the closure of the News of the World title.

"This is an exciting time," says Mike Darcey, News UK chief exec, quoted by ITV "and I feel privileged to be leading News UK as it begins a bright new chapter. With new people and a new strategy, we will take our place within a new company determined to secure a sustainable future for professional journalism around the globe."

Meanwhile David Dinsmore has replaced Dominic Mohan as editor of the Sun. It's expected Mohan will look at strategy opportunities for News UK in Europe.