Updates from Lloyds and AVEVA


A sharp dip for the FTSE 100 on Friday, falling almost 110 points - its biggest fall since early summer - to 6,663.7. Aberdeen Asset Management fell hardest, down -5.72% followed by BA and Iberia owner IAG, down -4.94%. Since the start of last week the FTSE 100 has lost almost 2.5%.

US and Chinese numbers plus rising emerging markets worry was blamed.

We start with the news from Lloyds. It confirms that the card problems that have blighted debit card transactions affecting Bank of Scotland, TSB, Lloyds and Halifax customers have now been fixed.

"Although the majority of transactions were unaffected," says the bank, "we are very sorry for the inconvenience that this will have caused." Two of seven Lloyds servers had major problems with debit card payments in particular.

Many Lloyds TSB customers could not withdrawn cash or pay for goods and services with debit cards. However credit cards were not affected, or online services. In January several RBS and NatWest systems suffered a similar fate.

An interim from engineering data player AVEVA next: no noticeable shift in trends reported since its previous October interim; overall the Group claims it continues to perform "well" with "solid cash generation" in the third quarter.

Whilst the Americas region has continued to feel the effect of soft market conditions in Latin America, AVEVA has seen good progress in the United States and Canada, it says. The Asia Pacific region continues to grow at a steady clip - strength in South Korea offsets generally weaker economics from China.

"As highlighted at the time of the Interim Results, the EMEA region," says the company, "has been affected in the current financial year by the impact of the lower than expected revenue growth in Enterprise Solutions, as well as some continued weakness in Russia and the Middle East."

Finally, LondonMetric Property says it has exchanged on the sale of the Odeon Multiplex Cinema in Dudley for £7.7 million to Aberdeen Asset Management. The property forms part of a portfolio of ten Odeon Multiplexes acquired by LondonMetric in November 2013 for £80.6 million.

The 10 screen, 40,200 sq ft cinema is let to Odeon Cinemas Limited for a remaining term of 24.7 years with no breaks. The lease is subject to annual rental increases of between 1% and 5% linked to the annual RPI index.

"This disposal further demonstrates," says Andrew Jones, Chief Executive of LondonMetric, "strong institutional interest for regional property with long-dated income let to robust covenants. We will continue to recycle capital opportunistically with an increased focus on new investments in preferred out of town and retail distribution sub-sectors."