Surgical Innovations Share News (SUN)

LONDON (Alliance News) - Shares in London have managed to hold onto early gains Friday after the Scottish electorate voted in favour of staying part of the United Kingdom.

The full results of the historic referendum are now in and, with an unprecedented turnout of 84%, show that the Scottish public voted 55.3% in favour of keeping the Union, while 44.7% voted for a split. That represents a bigger margin in favour of the union than the last polls in the run-up to the vote had predicted, sparking relief in the financial markets.

Scottish First Minister Alex Salmond, who led the charge for independence, said he accepted the result and pledged "to work constructively" with the UK central government at Westminster. With turnout at 86%, the vote had been "a triumph for the democratic process", said the leader of the Scottish government, who also made a call for unity.

Only four out of Scotland's 32 localities voted yes to independence, though that did include Scotland's largest city, Glasgow. The Scottish capital Edinburgh and the remaining 28 localities voted against.

British Prime Minister David Cameron, who had appeared shaken when opinion polls showed a large swing towards the pro-independence movement in the final weeks before the vote, said he was "delighted" by the result.

Those companies based in, or most exposed to, Scotland are seeing particularly strong gains. Royal Bank of Scotland is the best FTSE 100 performer, up 3.4%, with SSE, up 1.7%, and Lloyds Banking Group up 1.6%.

"The sound you can hear this morning is a giant collective sigh of relief from both Westminster and the City of London. A 'Yes' vote was the great unknown – no-one knew what would have happened and uncertainty is what the markets despise," said Dennis de Jong, managing director at UFX.com.

In individual stock news, shares in Domino Printing have surged after the company said trading in the year-to-date has been ahead of the year before, and it is confident for its full-year prospects, though it once more cautioned on its prospects for 2015.

Sales in the ten months to August 2014 were up 4% year-on-year, the company said, with underlying growth in its core business up 9%, though the core business took a 5% hit from foreign exchange movements.

Domino Printing trades 6.00% higher at 587.65 pence per share, the best-performing stock in the FTSE 250 index Friday.
---------
Markets: Across the Atlantic, futures show US indices will open higher with the DJIA, the S&P 500 and the Nasdaq Composite all indicated to open up 0.4%.

FTSE 100: up 0.7% at 6,865.36
FTSE 250: up 1.2% at 15,914.32
AIM ALL-SHARE: up 0.5% at 762.06
GBP-USD: down at 1.6385
EUR-USD: down at 1.2864
GOLD: down at USD1,222.15 an ounce
OIL (Brent): up at USD97.79 a barrel
---------
Other Top UK Corporate News
----------
Royal Bank Of Scotland Group said its contingency plans to move its registered office to England are no longer needed, but Lloyds Banking Group refused to rule out a future relocation despite Scotland voting 'No' to independence. The news comes after First Minister of Scotland Alex Salmond conceded defeat in the independence referendum. However, he said he expects the three largest political parties at Westminster to deliver on promises of more power for Scotland, which could have constitutional and political consequences for the rest of the UK. Standard Life, another FTSE 100 financial services group that made contingency plans in the build-up to the referendum, recognised that further constitutional change is "very likely" following the 'No' vote.
----------
UK oil and gas and renewable energy companies expressed pleasure in the result of the Scottish independence referendum, saying it is good for energy investment. BP said the North Sea is an important asset for the company and expects to be an active participant within the industry in Scotland for years to come. "BP will continue to work closely with both the UK and Scottish governments to realise our shared ambition of maximising economic recovery from the North Sea," a BP spokesman said in a statement. Royal Dutch Shell also welcomed the outcome of voting, stating it reduces "the operating uncertainty for businesses based in Scotland"
----------
Several big names in the retail and beverage industry have welcomed Scotland's decision to remain part of the UK, after the likes of drinks giant Diageo and home improvement retailer Kingfisher warned ahead of the vote that an independent Scotland would lead to higher prices. Scotch whisky maker Diageo welcomed the news Friday, with Chief Executive Ivan Menezes amongst the top executives that had said before the vote that they would prefer the union to remain intact for business reasons. Kingfisher CEO Ian Cheshire said the no vote leaves it confident in its investment plans in Scotland.
----------
GlaxoSmithKline said a Chinese court has ruled its GSK China Investment Co Ltd arm has broken Chinese law and will pay a GBP297 million fine. Glaxo said the Changsha Intermediate People's Court in Hunan Province ruled GSK China had, under Chinese law, offered money or property to non-government personnel in order to obtain improper commercial gains, and been found guilty of bribing non-government personnel. GSK China will pay a GBP297 million fine to the Chinese government. Glaxo said the associated costs and charges related to the fine will be included in its third-quarter update.
----------
Investec hailed the completion of the bulk of its restructuring and reshaping, though it cautioned that first-half results have been hurt by the depreciation of rand against sterling. In a statement, the Anglo-South African financial services group said it expects operating profit for the six months ending September 30 to be ahead of the corresponding period last year in sterling terms, and substantially ahead in rand. Investec said it expects its wealth and investment division's results to increase substantially and asset management to report results ahead of the prior year.
----------
Evraz announced it is considering an initial public offering of its North American subsidiary, Evraz North America. Evraz said it released the statement in response to market rumours. It has not filed a registration statement to the US Securities Exchange Commission, but may do in the foreseeable future, the company said. "Evraz remains committed to its North American operations and continuing to grow its business in North America," it said in a statement.
----------
Just Eat said its Brazilian business RestauranteWeb has merged with Brazilian online restaurant delivery company iFood.com Agencia de Restaurantes Online. The new company will be called IF-JE Participações Ltda and will be a joint venture between Just Eat and iFood's existing shareholders.
----------
AIM Movers
----------
African Minerals trades higher after the iron ore miner reiterated its guidance that it will produce 16-18 million tonnes per annum for the full year 2014, with cash costs in the range of USD34 to USD36 per tonne. At the other end of the market, Clean Air Power is the worst-performing AIM stock; the company said it is facing challenging trading conditions at present and said it expects its full-year results to fall significantly below market expectations, sending its shares down heavily. Shares in Surgical Innovations Group also are lower after the manufacturer said a continued fall in original-equipment-manufacturer (OEM) revenue and slower-than-expected revenue from its US dealer network, in combination with the decision made by the group to cut inventories in the customer supply chain, means it expects full-year profit and revenue to fall significant below market forecasts. Tandem Group also trades lower; the company posted pretax profit of GBP213,000 for the six months to June 30 compared with a GBP498,000 loss a year earlier, as revenue rose to GBP13.7 million from GBP11.3 million. Despite the swing to profit, shares have fallen after the group said the 11 week period to September 12 was more challenging even though weather conditions were "reasonable."
----------
Top Economics And General
----------
Top EU and NATO officials breathed a sigh of relief at the outcome of Scotland's referendum. "I welcome the decision of the Scottish people to maintain the unity of the UK," said European Commission President Jose Manuel Barroso. "This outcome is good for the united, open and stronger Europe that the commission stands for."
----------
Germany's producer prices decreased at a stable rate as expected in August, data from Destatis showed. Producer prices fell 0.8% year-over-year in August, the same rate as in July. This was in line with the consensus estimate. On a month-on-month basis, producer prices declined at the stable rate of 0.1% in August, as expected by economists.
----------
Streets across Sierra Leone were empty as the country began a three-day, government-imposed curfew to gain control of an Ebola outbreak that has killed more than 2,600 people in West Africa. Security personnel were deployed to all major roads to ensure Sierra Leone's roughly 6 million residents were complying with the lockdown, which confines people to their homes from September 19 to 21. "We need to restrict movement for us all to avoid body contact," government spokesman Abdulai Baratay told dpa.
----------
France agreed Thursday to conduct airstrikes alongside the US against the Islamic State in Iraq, as the US Congress approved plans to arm and train moderate Syrian rebels to go after the terrorist group. President Francois Hollande said France would join the US-led air campaign in Iraq, ruling out any involvement in Syria where the militant group controls large territories.
----------
Iran must speed up its cooperation with an investigation into alleged nuclear weapons projects, US and EU envoys said Thursday in Vienna, warning that the issue was key to negotiations on a wide-ranging nuclear deal. Diplomats were discussing the sluggishness of the International Atomic Energy Agency's (IAEA) investigation at an IAEA board meeting just as a next round of talks began in New York.
----------
Afternoon Watchlist (all times British Summer Time)

15:00 US CB Leading Indicator
---------
Monday's Key UK Corporate Events

Dairy Crest Group - Trading Statement
Moss Bros Group - Half Year Results
Gemfields - Full Year Results
Allergy Therapeutics - Full Year Results
Finsbury Food Group - Full Year Results
Eagle Eye Solutions - Half Year Results
Waterlogic - Half Year Results
Goldplat - Full Year Results
---------
Saturday's and Sunday's Key Economic Events

All Day G20 Meeting

Monday's Key Economic Events (all times British Summer Time)

14:00 EU ECB President Draghi's Speech
15:00 EU Consumer Confidence Preliminary
15:00 US Existing Home Sales
15:05 US Fed's William Dudley speech
---------
Contact: +44 203 668 7440; newsroom@alliancenews.com; @AllNewsTeam

Copyright 2014 Alliance News Limited. All Rights Reserved.