Updates from EE, Polar Cap Tech and MJ Gleeson

The FTE 100 took another modest cautious gain on Thursday, up 21.8 points to 6,630.4. A final settlement on the Deepwater Horizon tragedy helped BP shares surge more than 4.3% to 437.50p while RSA Insurance Group climbed 2% to 411p. AshteadGroup shares fell almost 4% however to 1059p despite BNP Paribas confirming their Outperform rating on the business.

In the US the Dow Jones slipped almost 28 points to 17,730.1, ending the week more than 215 points down overall (the market is closed Friday for the Independence Day weekend). Meanwhile in Asia Chinese stocks sink again.

We start the day with a £1m rap on the knuckles for EE; Ofcom has fined the mobile player for poor customer performance complaints. The fine is one of the heftiest Ofcom have made, proportionate overall to EE's 27m customers.

Ofcom says that that over the period investigated - 22 July 2011 to 8 April 2014 - EE did not provide some customers with accurate information about their right to take a complaint to an alternative dispute resolution (ADR) scheme.

"In addition," says Ofcom, "between July 2011 and February 2014, EE sent paper bills to Orange customers and written notifications to Orange, 4GEE and T-Mobile customers that did not reference that they can use its ADR scheme for free."

We move onto an update from Polar Cap Tech Investment Trust. For the year Polar claims its sixth financial year of increases in Net Asset Value (NAV) and share price, outperforming the Dow Jones World Tech index benchmark with a NAV rise of 30.7% (the share price is up 33.9%), it claims.

The scale of the increase was partially attributable to a recovery from the six-week collapse in US technology shares which depressed Polar's 2014 year end, and a (circa) 10% hike in the dollar vs sterling.

No performance fee will be paid this year says Polar as the manager needs to catch up on the underperformance since the previous fee paid back in 2011.

Finally, urban homes player MJ Gleeson - its share price is up almost 30% year-to-date at 463p - has issued a trading update to 30 June. Gleeson Homes sold 751 homes during the year, a rise of 34% compared with the previous year's total of 561.

Gleeson's forward order book at 1 July 2015 appears robust at £43.9m representing 337 homes, broadly in line with the prior year order book of 356 homes totalling £44.2m, says the company.

Gleeson Homes is active on 42 sites and anticipates that this will increase to more than 50 sites during the coming year. Analysts at Liberum Capital have just reiterated their Buy rating on the stock.

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