Source - SMW
UK stocks opened stronger on Monday after a drop in the pound boosted the shares of companies with sizable portions of overseas earnings. 

At 0859, the benchmark FTSE 100 was up 22.80 points, or 0.3%, at 7,455.79.

Sterling was put under pressure by reports that dozens of senior Conservative ministers had agreed to sign a letter of no confidence in Prime Minister Theresa May. 

Multinational companies Astrazeneca and Unilever led British stocks higher, with gains of 2.3% and 1.5%, respectively.

On a big morning for acquisitions and divestments, Royal Dutch Shell  said it had agreed to sell a large chunk of its remaining holding in Woodside Petroleum for around $1.7 billion. The sale was of an 8.5% stake in Woodside, leaving Shell with 4.8% of the Australian company.

Shell shares gained 0.5%, as the sale helped it reduce debt taken on by its acquisition of BG.

Glencore, meanwhile, said it had completed its $1.215 billion acquisition of a large stake in Peru-based miner Volcan Compania Minera. Its shares also added 0.5%.

Vodafone gained 0.3% after its Indian unit and Idea Cellular agreed to sell their standalone tower businesses in India to ATC Telecom Infrastructure Private for around $1.2 billion.

Ultra Electronics shares plunged 19% after it blamed a profit warning on the cancellation of UK defense programs.

Taylor Wimpey was flat after announcing that it was on track to meet its expectations for the full year as UK housing market conditions remained positive in the second half.

Gaming group Ladbrokes Coral Group fell 1.4% after it boosted revenue by 3% in the four months to October 29.

Funeral-related services provider Dignity shed 3.5% after it booked a 55% rise in year-to-date operating profits. The company, however, said the number of deaths in the third quarter was flat on the previous year.