Share Prices & Company Research

Market News

08 Nov 2019 | 09:07

UK stocks open 0.4% lower as US-China trade hopes fade

UK stocks opened lower on Friday as US-China trade deal optimism began to fade and airline owner International Consolidated Airlines cut its earnings forecasts.

At 0858, the benchmark FTSE 100 index was down 29.36 points, or 0.4%, at 7.377.05.

British-airways owner International Consolidated Airlines descended 1.4% to 537p after it trimmed its medium-term earnings guidance for the three years from 2020 to 2022 amid a planned reduction in flying capacity.

Asia-focused bank Standard Chartered shed 1.0% to 726.4p on announcing that it had reduced pension payments to chief executive Bill Winters and chief financial officer Andy Halford, following a large shareholder vote against its remuneration policies.

Delivery company Royal Mail reversed 0.2% to 222.5p as it made an application to Britain's high court in an attempt to block planned strikes by its workers.

Insurance company Beazley gained 5.5% to 567.5p on the back of 12% premium revenue growth in the nine months through September, amid a difficult claims environment marked by increased hurricane activity.

Miniature war games manufacturer Games Workshop jumped 13% to £50.95 after it guided for a rise in first-half profit driven by a boost in royalty income.

Specialist product manufacturer Morgan Advanced Materials fell 0.9% to 258.6p, on reporting that its underlying sales and operating margins had only moved up slightly in the first nine months of the year.

Telecom technology company Spirent Communications shed 1% to 199p after it said it expected incur a one off $4m cost associated with hiring new managers and developing its sales and marketing capabilities.

In a third-quarter trading update, Spirent also said it had experienced some order delays at its lifecycle service assurance division.

Target Healthcare rose 0.8% to 115.74p on announcing that it had agreed to acquire eight care homes and 31 retirement apartments, in four separate deals, for a combined £81.3m including transaction costs.

Fintech group TruFin dropped 5.8% to 43.8p after it reported a third quarter operating loss, despite seeing revenue rise 73% over the period. Story provided by
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.