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01 Nov 2019 | 09:08

UK stocks open 0.3% higher after China manufacturing beat

UK stocks opened open higher on Friday following the release of better-than-expected Chinese manufacturing data, though concerns about US-Sino trade tensions lingered.

At 0859, the benchmark FTSE 100 index was up 19.89 points, or 0.3%, at 7.268.27.

BHP gained 0.5% to £16.436 after it approved $44m for work needed to restart a concentrator at the Samarco mine in Brazil, the site of a catastrophic dam failure in 2015.

Telecom giant Vodafone gained 0.5% to 158.12p on announcing that it had formed a strategic partnership with sustainable phone maker Fairphone to offer its products to retail customers in Europe.

Steel supplier Evraz shed 0.7% to 364.5p as it reported a fall in crude steel production, owing to scheduled maintenance and weaker demand.

Auto dealer Lookers reversed 17% to 41.1p after it sounded a shock profit warning and announced the departures of chief executive Andy Bruce and chief operating officer Phil White.

Inter-dealer broker TP ICAP rose 0.2% to 343.7p as its revenue grew 17% in the third quarter, though it stuck to its guidance of more subdued growth over the full year.

Pest control company Rentokil Initial gained 0.7% to 457.7p on announcing that it had acquired Florida Pest Control, for an undisclosed sum.

Scottish television broadcaster STV added 1.9% to 400p after it launched its set-top boxes on Sky.

Aviation support services provider BBA Aviation climbed 2.2% to 310.2p on announcing that the return to shareholders generated by the sale of its Ontic division would be at the top end of previous guidance. Story provided by StockMarketWire.com
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