Breaking pre-market news on Thursday,

- UBS planning to separate its investment bank and incorporate outside of Switzerland — report.

- Jupiter Properties makes conditional 120.5p a share cash offer for Minerva — statement.

- Burberry reports 40 per cent rise in annual profits; to step up spending on new stores– statement.

- Man Group assets under management up 3 per cent in past two months; profits ahead of forecast – statement.

- Corporate: British American Tobacco, Rank GroupQinetiQ Group, Helical BarLondon & Stamford Property, Ferrexpo, Shanks Group, GW Pharmaceuticals, Gold Oil, Augean, RAB Special Situations, Young & Co’s Brewery, Tribal Group, Parity Group, Daily Mail & General Trust, Raiffeisen Bank.

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