Rupert Murdoch's News Corp, owner of The Times and The Sunday Times newspapers, sees third quarter net profits fall 52%.

Australia's stocks lead losses in Asia following shares in the US which finished the day lower after trade figures showed the US deficit jumped sharply in March, suggesting weaker economic growth.

Commonwealth Bank of Australia posts a flat cash profit of about 2.2bn Australian dollars ($1.74bn; £1.15bn) for the three months to March compared to a year earlier.

Supermarket group Sainsbury's reports its first full-year loss for 10 years, after writing down the value of its stores.

German carmaker BMW speeds past quarterly earnings expectations, thanks to strong SUV sales.

The FTSE 100 has a mixed opening as investors digest a number of results and updates from companies.

Discount store Poundland has invited the competition authorities to move to a full review of its proposed tie-up with rival 99p Stores.

The UK's services sector saw its fastest growth in eight months during April, a survey indicates.