Glaxosmithkline Share News (GSK)

The absence of any mention of plans to launch a bond purchase in the European Central Bank (ECB) press conference this afternoon has taken some of the glow off equities. "We expect the governments to follow what they are committed to, they all have their adjustment and stabilisation programmes," ECB President Jean-Claude Trichet said at the press conference in Frankfurt.Big company news today has mostly been well received, which has helped alleviate the disappointment regarding the ECB's inaction.TUI Travel has been the best performer throughout the day after it increased underlying pre-tax profit by 4% to £337m during the year to September. Revenue fell 2% to £13.5bn. The increase in profit was driven by integration synergies, the recovery of scheduled flying losses in Germany and the strategic venture in Canada, partially offset by weaker trading. TUI's peer Thomas Cook is in demand after falling yesterday on the back of its numbers. The UK & Irish operations of Kingfisher were a drag on sales growth in the third quarter, as the DIY retailer reported an 8.2% year on year increase in retail profits. Sales in UK & Ireland fell 3.8% and dropped 4.2% like for like. "We enter our fourth quarter in good shape," said boss Ian Cheshire.The initial mineral resource at African Barrick Gold's North Mara project in Tanzania indicates the potential to develop a "substantial underground" operation.Drugs colossus Glaxo is a bit off colour after a federal advisory panel in the US said drugs currently being used to treat enlarged prostates weren't suitable for use as treatments to prevent prostate cancer. That was a knock-back for Glaxo, which is seeking approval from the US Food and Drug Administration to market its Avodart drugs for that very purpose.Barclays is getting rid of several hundred wealthy investment bankers following a big drop in revenues at its "casino" arm.Elsewhere in banking there was tabloid anger at the FSA's decision to exonerate Sir Fred Goodwin, the former chief executive of Royal Bank of Scotland, of accusations of fraud. Turns out "Fred the Shred" and fellow former senior executives of the fallen banking titan were just guilty of making "bad decisions".Investors are raising a glass to pub group and brewer Marston's after it posted a rise in profits despite tough trading in the year to October 2, helped by its shift towards food-oriented pubs. The company, which operates centrally managed pubs such as the Pitcher and Piano chain as well as leasing premises to landlords, saw revenues climb by 0.9% from the previous year, with pre-tax profits climbing to £73.5m from £70.3m.Elsewhere in the drinks industry, soft drinks group Britvic has gone sour even though full-year profits were higher as sales continued fizzing in spite of subdued economic conditions. The company, which sells its own brand of juice and distributes Pepsi in Britain, posted a pre-tax profit of £109.1m in the 53 weeks to October 3, up from £104.6m the previous year. Revenues, excluding the impact of the acquisition of Britvic France in May, were up to £1,138.6m from £1,121.1m. Infrastructure specialist Balfour Beatty has reached financial close for the £55m Derby City Building Schools for the Future (BSF) programme. The Derby City BSF Partnership project involves the delivery of a capital investment programme for schools in Derby in partnership with Derby City Council.Telecoms firm Cable & Wireless Communications (CWC) is set to acquire a controlling interest in the Bahamas Telecommunications Company (BTC). CWC will buy a 51% interest in the government-owned BTC, subject to necessary consents and other regulatory clearances, for $210m. BTC is being acquired with $15m of net cash on the books.Desire Petroleum has gushed ahead after saying it has found oil in the treacherous waters off the Falkland Islands, according to preliminary data collected from Rachel North exploration well 14/15-2. The well in the North Falkland Basin reached a total depth of 3,052 metres, and drilling data and other tests indicate the well encountered a 349 metre gross interval of sands and shales with hydrocarbons, of which 57 metres is net pay in multiple zones. Meanwhile, JJB Sports slumps after saying it is likely to breach its banking covenants as sales continue to fall short of expectations at the sports shop chain. Trading conditions have been "extremely challenging" since it last updated the market early last month and the company thinks this has been exacerbated by the current bad weather.IT supplies and services company Datatec is to buy US network systems firm Network Infrastructure Corporation for an undisclosed sum. Fellow techie firm, Florida-based wireless communications firm XG Technology surged on news that MB Technology Holdings, which already owns almost 40% of the XG, is considering pumping an extra $10m into the company.Postman Pat company Character Group delivered a pleasing set of full year results, returning to the black with a pre-tax profit of £7.55mcompared with a loss of £2.17m a year earlier.Gold miner Solomon Gold said that results from recent drilling at various Queensland prospects continue to support the targeted resource definition of one million ounces of gold equivalent.The share price of motion capture specialist OMG moved to a 52-week high after its "best ever year". Both sales and profits were ahead of expectations.Aurum Mining fell over 80% as the shares began trading without the right to enjoy the proposed return of capital to shareholders. Investors will be receiving cheques for almost £7.8m, leaving the company with a likely cash pile of £840,000, worth 1.6p a share, at the end of December.