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29 Apr 2019 | 09:02

UK stocks nudge higher following positive US, China data

UK stocks opened higher on Monday after positive US and Chinese economic data helped cool global growth fears.

At 0853, the benchmark FTSE 100 index was up 11.79 points, or 0.2%, at 7.439.98.

Miner and commodities trader Ferrexpo jumped 11% after it hit back against claims by its former auditor Deloitte that it had delayed an independent review into its charitable donations.

The company also said it had continuing to trade 'strongly'.

Steel producer Evraz gained 0.4% as it reported a 12% rise in first-quarter output, led by higher pig iron production.

Pharmaceuticals giant AtraZeneca advanced 0.9% after European regulators offered a positive opinion on a treatment for ovarian cancer.

Consumer goods supplier UP Global Sourcing, also known as Ultimate Products, rallied 11%, as it posted a 48% rise in first-half profit owing to higher sales and steady margins.

Auto Trader added 0.5% on revealing that chief executive Trevor Mather would retire at the end of March next year, to be replaced by current chief financial officer Nathan Coe.

Self storage group Lok'nStore firmed 1.1% after its first-half profit rose by a fifth and it hiked its dividend.

Safety company investor Marlowe added 3.4% on announcing that it expected its adjusted operating earnings for the full to be 'slightly ahead' of market expectations.

Obesity, high cholesterol and diabetes treatment developer OptiBiotix Health shed 2.5% after it swung to a full-year loss, as spending offset rising sales and it benefited from an asset sale in the previous year.

Specialist services and engineering company TP Group gained 3.6% on news that it had won a £16.9m contract from a 'leading US defence company' to provide advanced packaged equipment. Story provided by StockMarketWire.com
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