UK stocks open 0.1% lower as trade tensions escalate
Source - SMW
UK stocks opened lower on Monday after China threatened to retaliate against US trade tariffs amid a deterioration in negotiations
At 0854, the FTSE 100 was down 9.96 points, or 0.1%, at 7.193.33.
British Gas owner Centrica gained 1.8% after it stuck to its annual guidance, despite facing another challenging first quarter that many had expected would result in a downgrade.
The company also announced that it would provide a more detailed strategic update when it releases its interim results in late July.
Metro Bank slumped 6.7%, even as it attempted to reassure investors about its capital position by announcing that its plan to raise £350m from a share issue was 'well advanced'.
The challenger bank over the weekend had denied 'false' claims on social media about its financial position.
Funeral firm Dignity dropped 6.4% owing to a profit warning blamed on significantly lower death rates.
Bus and train company FirstGroup was little changed after it revealed activist investor Coast Capital Management had called a shareholder meeting to try and roll its board.
Technical product supplier Diploma fell 2.0%, despite beating its annual revenue guidance, as it also noted 'early signs' slower activity in its industrial seals segment.
Plastics company Victrex softened 3.5% after it booked a 21% fall in first-half profit, owing to weakness its automotive and consumer electronics divisions.
Engineering group Ricardo shed 0.8% on announcing that it had agreed to acquire Australia-based rail system company Transport Engineering from private owners Stephen and Alia Boyd for $53.6m (£28.9m).