Source - SMW
UK stocks opened a touch weaker on Monday, weighed down by banks and miners.

At 0858, the benchmark FTSE 100 index was down 4.02 points at 7,519.21.

Barclays and Standard Chartered both shed 1.2%, while Antofagasta and BHP Billiton jettisoned 0.6% and 0.8%, respectively.

One of the morning's biggest shocks came from car dealer Pendragon, which said it expects annual pre-tax profits to fall by around 19% due to waning demand. Its shares tumbled 19%.

Spire Healthcare jumped 11% after revealing it had received and rejected a takeover offer from Mediclinic International. 

Spire said the offer of 150p in cash and 0.232 new Mediclinic shares per Spire share significantly undervalued the company and its prospects.

Waste manager Renewi was another bright spot, rising 7.2% after announcing that it now expects to deliver a result for the year ending March 31 that is significantly above its previous expectations.

The arrival of a production vessel at the Catcher field in the North sea sent Premier Oil up 2.1%.

Small-cap electronics firm Dialight slumped 16% after it warned that short-term production challenges would hurt annual operating earnings.

Braemar Shipping Services lost 0.9% on weaker first-half revenue and operating profits.