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).
Sign up to our
Subscribe to the latest investing news by entering your email address below
You can opt out at any time.
For five days a week you will get
- The latest company news
- Insight into investment trends
- Round-up of director's buys and sells
- Articles from Shares magazine
Plus more useful investment content and occasional promotional offers.
UK 350 Risers and Fallers
Tweets not available.