It is a fairly quiet day for blockbusting news from the small-caps so it is little surprise that investors are focusing on a trio of FTSE 100 index heavyweights.
Accountancy software provider Sage (LON:SGE) ticked all the right boxes as it revealed a strong sales pick-up and forecast further acceleration over the next two years.
Shares jumped by more than 9% as organic revenues grew by 4% in the year to September, double the previous year and with an even better second half performance when revenues rose by 5%.
The market seems unable to make its mind up about this morning’s third quarter trading update from Tesco (LON:TSCO), which showed the retail giant recording a miserable 1.5% year-on-year decline in like-for-like sales.
On the other hand, there was no profit warning, which cheered some.
There is little doubt about the reaction to the trading statement from fellow top-share index constituent Standard Chartered (LON:STAN). Shares in the Asia-focused bank dived after it warned that difficult market conditions will mean flat full-year income.
The bank said the tough climate, which began in August, continued through the second half of the year.
Another bank trending on Google news is RBS, which is still suffering fall-out from this week’s information technology (IT) glitch that saw online banking customers denied access to their accounts.
The bank’s chief executive, Ross McEwan, has apologised for the IT debacle and admitted that the company had failed to invest adequately in its computer systems over a period spanning decades.
While the bank contemplates the massive investment that will be needed to bring its IT system up to par, it has to find €260mln to resolve the European Commission’s (EC) investigation into Yen LIBOR rate fixing, and €131mln to settle a similar investigation by the EC into EURIBOR competition infringements.
Not that RBS is the only bank to be fined; in all, the EC levied fines totalling €1.71bn on Deutsche Bank, Societe Generale, JP Morgan and Citi, plus RBS and the broker RP Martin.
Deutsche was hit with the biggest fine: €725.4mln.
Among the small-caps, Xenetic Biosciences (LON:XEN) has caught the eye, as it revealed it is taking two more treatments into clinical trials.
The treatments are: PulmoXen, a next generation variant of Roche’s Pulmozyme for cystic fibrosis, and PSA-Oxyntomodulin, for early stage type-two diabetes.
Another story attracting a lot of mouse clicks is NewRiver Retail’s (LON:NRR) decision to splash the cash again by acquiring three shopping centres for £24mln.
The portfolio of shopping centres includes the Newkirkgate Shopping Centre in Edinburgh, the Beacon Centre in North Shields, Tyne & Wear, and the La Porte Precinct near Falkirk.
It follows the £34mln acquisition of shopping centres in Llanelli and Oxford.
On the message boards, the usual suspects are generating the most posts; the likes of Gulf Keystone, Range Resources and Bushveld Minerals don’t seem to need news flow to generate discussion.
At least Xcite Energy (LON:XEL), currently the most active board on one investment web site, has a bit of news out today, though it is baffling why a simple refiling of annual financial statements with a couple of esoteric tweaks should generate so much excitement, even among the easy-to-stimulate forums dwellers.
Lastly, top marks to go to Advanced Oncotherapy (LON:AVO), which has grabbed some publicity for its contribution to the sponsorship of the Large Hadron Collider (LHC) Exhibition at the Science Museum, London.
“At the launch ceremony, I mentioned how thrilled we are that one of the sponsors, Advanced Oncotherapy, is applying the research behind the LHC to medical use in treating cancer. AVO is also a British company and their work reinforces the strong connections that the UK has had with CERN since its establishment," said Ian Blatchford, director of the Science Museum.