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Fri City brief: Wetherspoon enjoying breakfast trade

Shares in challenger bank Aldermore made their debut, coming off the 220p offer price slightly at the opening but closing up 7p at 227p.

Bank shares were in focus, led by TSB which received a surprise bid from Spanish bank Sabadell yesterday prompting a 23% surge in the shares. The 340p per share offer is 80p above last summer’s flotation price. They edged up an 1.9p to close at 328p.

After touching a low of 6,713.50,  the FTSE100 finished 20.49 points (-0.3%) lower at 6,740.58, ending the week down 2.5%.

Company statements included:

WETHERSPOON: Sales of breakfasts now outstrip those at Caffe Nero and Pret a Manger and the pubs group says it will build on this with price cuts. In the six weeks to 8 March 2015, like-for-like sales increased by 1.6%, with total sales increasing by 5.6%. Profit before tax in the half year to 25 January were up 4.1% at £37.5 million (2014: £36m). The interim dividend maintained at 4p.

WOOD GROUP: A contract worth £40m from Statoil on behalf of Gassco will involved engineering modifications and upgrades on a plant in Norway.

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