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24 Jan 2019 | 09:30

UK stocks edge lower ahead of ECB meeting

UK stocks are edging lower on Thursday morning as traders await the outcome of the European Central Bank's monetary policy meeting, which is expected to leave interest rates unchanged.

At 08:58, the benchmark FTSE 100 was down 0.097%, or 6.64 points, at 6,836.24.

Premium carbonated drinks supplier Fever-tree climbed 6.66% as it said Thursday annual performance would be 'comfortably ahead' of its full-year expectations, led by 'exceptional' growth in the UK.

Daily Mail and General Trust's added 1.47% after it reported that revenues declined 2% as the loss of revenue from the sale of its stake in ZPG weighed and circulation growth fell in the first quarter of the year.

Russian gold producer PJSC Polyus slipped 0.54% as it said estimated gold sales and total gold output increased year on year in 2018, despite both slipping in the fourth quarter.

Anglo American lost 0.50% after it said Thursday it expected copper and diamond production to decline in 2019. This came as it reported that annual output on a copper equivalent basis rose 7% following double-digit percentage growth in copper and rough diamonds output in the final quarter of the year.

Wealth management group St James's Place gained 2.10% despite reporting on Thursday declining inflows in the fourth quarter of 2018 amid "particularly difficult market conditions".

British restaurant and pub chain The Restaurant Group slid 7.52% after it reported a 2% drop in like-for-like sales in 2018, but said it had delivered sales growth since the World Cup and that its pubs business had continued to consistently outperform the sector.

UK home builder Countryside Properties shed 0.46% as it said Thursday that first-quarter performance met its expectations underpinned by strong demand for affordable homes.

Kaz Minerals slipped 0.62% on Thursday even as the miner said full-year gold output topped its guidance, and copper output was at the upper end of its estimated range.

Refractory products, systems and services supplier RHI Magnesita edged 0.76% lower after it confirmed on Thursday that the Securities and Exchange Commission in Brazil had approved the cancellation of the listing Magnesita Refratarios S.A as a publicly held company in Brazil. Story provided by StockMarketWire.com
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