A better day for markets: the FTSE 100 finished almost 100 points higher yesterday at 5,586; Whitbread, up +6.38% and Eurasian Natural Resources, up +5.05%, were the biggest risers.

Overnight in Asia, stocks climbed higher on more stimulus hope, with the Japanese Nikkei seeing a +1.3% gain and the Hang Seng rising +0.4%.

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First off this morning, full year numbers from Kesa Electrical. Profits are under pressure after a tough year: group retail profits tumbled to €70.1 million (2011: €117.3 million) while adjusted Group profit before tax fell to €59.0 million (2011: €102.4 million). Revenues dipped 2% to €4,025.7 million (2011: €4,108.5 million).

However there's benefit from better cross channel focus with a 17% increase in web sales and overall market gains Kesa claims, plus improved profitability at its other established businesses. It's also announce Kesa will be renamed Darty plc.

"The Darty brand in France is an iconic brand built on the strength of its service to customers and we continue to roll out the strength of this concept across all our other markets and local brands," says the company.

Next, Sage Group has announced a controlling interest in Folhamatic Group, an accounting, tax and payroll and regulatory content software player in Brazil. The expected total consideration of £125m (R$398m) for 75% of the equity equates to an enterprise value for 100% of the business, including estimated net debt at closing, of £191m (R$608m).

"Brazil...represents an attractive market for Sage with robust macro-economic fundamentals and a favourable, highly complex tax and regulatory environment," the company said. Folhamatic saw underlying revenues rise in the twelve months to 31 December 2011 of £42.4m (R$135.4m) by more than 13%.

Finally, Ryanair is making a third bid for Aer Lingus. Ryanair - it currently owns around 30% of the Irish carrier - is offering a 38% share premium hike to Aer Lingus shareholders, valuing the company at €694m. However the Irish government has said in the past it opposes a Ryanair sale.

"This offer represents a significant opportunity to combine Aer Lingus with Ryanair, to form one strong Irish airline group capable of competing with Europe's other major airline groups," said Ryanair boss Michael O'Leary.

However authorities need convincing that a new combined airline controlling the vast majority of traffic between Ireland and other parts of the UK would not smother competition.

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