UK stocks open 0.8% higher on trade truce hopes

08:43 18/01/2019
StockMarketWire.com - UK stocks opened stronger on Friday amid hopes the US and China would make headway in trade talks, though Brexit uncertainty continued to hang over the market.

At 0840, the benchmark FTSE 100 index was up 54.07 points, or 0.8%, at 6.888.99.

Ryanair fell 2.5% after the budget carrier downgraded its full-year profit guidance due to a 7% slump in winter ticket prices.

Rio Tinto added 0.5% after it notched higher copper and iron ore production in calendar 2018, though output slipped for aluminium and titanium.

Cyber security company Sophos Group plunged 24% as investors looked past a swing to profit in the third quarter and focused on a decline in billings.

Safety technology group Halma gained 0.5% on news that it had acquired emergency communications systems supplier Business Marketers Group for $42.4m.

Currency manager Record slumped 9.4% after it reported a fall in third-quarter assets under management due market volatility and net fund outflows.

Fund manager Miton lost 1.9%, despite recording a 15% rise in annual assets under management underpinned by a doubling of net inflows.

Fresh prepared food provider Bakkavor Group said its annual revenue increased by 2.2% amid 'good progress' across each of its segments. Its shares gained 0.3%.

Struggling restaurant owner Richoux dropped 14% on announcing that it had decided to cancel its shares from AIM and go private to save on administrative costs and perhaps attract financial backing.

Story provided by StockMarketWire.com

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