Updates from Morrisons, Experian and Schroders

A better day for the FTSE 100 on Wednesday, up more than 85 points to 6,539.1. M&S shares were the out-and-out star, surging almost 10% to 444.10p on better half-year profits and a rise in the dividend, despite another slump in clothing sales. Morrisons was another strong riser (though from a low base) up almost 6% to 162.40p while Admiral Group took the biggest overall hit, down 3% to 1296p.

Stateside, the Dow Jones continues to climb further, up 0.58% or 100 points, to 17,484.5 with Visa climbing 2.70%.

We stay with Morrisons this morning. Latest numbers for the 13 weeks to 2 November 2014 sees total sales excluding fuel down by 3.6% - down 5.6% including fuel - and like-for-like (LFL) sales down 6.3%, or cut to 8.0% including fuel. Online contributed 0.7% to LFL during the period.

Items per Basket improve claims Morrisons, down 2.4% year-on-year, significantly better than the low of -6.9% in Q4 2013/14. Other operational key improvement indicators showed further improvement it claims.

"The financial position of the Group remains strong," says Morrisons, "with net debt of £2.6bn. Progress on debt reduction is particularly encouraging." But Morrisons' share price remains close to a 10-year low.

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Next, Experian. For the six months to 30 September constant exchange rates total revenue growth was 4%. No change in organic revenue. Total revenue from continuing activities climbs 5% at actual exchange rates; there's total revenue of US$2.4bn (2013: US$2.3bn).

Profit before tax climbs to US$590m, up 3% at actual rates. The first interim dividend of 12.25 US cents per ordinary share is up 7%.

"We have delivered," says boss Brian Cassin, "a good earnings result for the first half, driven by strength in North America Credit Services, a return to growth in Brazil and a good all-round performance in the UK. Our cash performance was particularly strong which has allowed us to reduce debt ahead of schedule."

Lastly, a rash of quarterly and nine-month numbers from Schroders. Profit before tax and exceptional items for the three months to 30 September climbs 18% to £142.9 million (Q3 2013: £121.6 million), taking profit before tax and exceptional items for the first nine months of 2014 to £404.4 million (2013: £349.6 million).

Asset Management net revenue for the three months to 30 September was £329.5 million (Q3 2013: £315.0 million) while wealth Management net revenue for the three months to 30 September was £61.7 million (Q3 2013: £47.0 million).

"We have won net new business of £7.0 billion in the first nine months of the year," says chief exec Michael Dobson, "and have continued to generate net inflows across all channels in October, despite market volatility."

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