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29 Oct 2019 | 08:34

UK stocks open 0.5% lower as Johnson eyes December poll

UK stocks opened lower on Tuesday after Boris Johnson made fresh attempts to push for UK national elections in December and oil giant BP reported disappointing profit numbers.

At 0830, the benchmark FTSE 100 index was down 34.26 points, or 0.5%, at 7.297.02.

BP fell 1.2% to 506.1p after it swung to a loss in the third quarter, as lower prices, hurricane impacts and maintenance activities hurt its oil and gas production business.

Online broker Plus500 rallied 7.5% to 847.59p after its revenue rose 10% in the third quarter, boosted by a jump in customer numbers.

Energy services group Hunting reversed 3.6% to 405p as it warned on full-year profit, amid a slowdown in the US onshore shale market.

John Laing fell 0.2% to 364.4p on announcing that it had acquired stakes in separate Colombian and Canadian road and rail projects.

Kazakhstan-focused Nostrum Oil & Gas shed 7.5% to 18.96p as it downgraded its annual production guidance, while reporting a fall in year-to-date revenue.

Israel-focused precious gem producer Shefa Gems fell 19% to 4.05p after announcing that chief executive Avi Taub had passed away following a short illness.

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