UK stocks open 0.3% lower as global market ructions continue
Source - SMW
UK stocks opened weaker on Friday as fears of higher interest rates continued to dog markets around the globe.
At 0856, the benchmark FTSE 100 index was down 23.49 points, or 0.3%, at 7,147.20.
Newspaper publisher Trinity Mirror rallied 6.6% after forecasting adjusted results for the full year 'marginally' head of consensus forecasts. The company also completed a £126.7m deal to acquire the Express and Star newspapers.
Plastics provider Victrex said revenue in the first quarter was up 41% on-year, as a strong performance in its industrial business offset a slightly weaker performance in its medical business. Its shares shed 0.3%.
Nationwide Building Society said its profit for the first nine months of the financial year edged 2% higher after it shrunk the size of its mortgage book and seeded market share. Its shares were unchanged.
Real estate investment trust Shaftesbury gained 0.2% after it said it continued to experience high footfall and 'robust trading' at its London West End properties.
Utility SSE, meanwhile, said it had secured agreements to provide generation capacity from October 2021 to September 2022 in the a capacity market auction, at a price of £8.40/kW. Its shares were 1.2% lower.
Software provider Scisys said it had renewed its service contract to supply support and maintenance services for the BBC's enterprise audio broadcast technology. Its shares fell 1.2%.
Kennedy Ventures fell 3% after the resources-sector investment group reported a widening annual pre-tax loss.