UK stocks opened lower on Friday after talks between the UK and Ireland about striking a possible Brexit deal were seen as positive, strengthening the pound and pressuring exporters. At 0830, the benchmark FTSE 100 index was down 23.75 points, or 0.3%, at 7.163.98. Hedge fund manager Man Group shed 2.3% to 158.5p on warning that its outlook on fund flows remained 'mixed' amid Brexit uncertainty, while reporting a fall in third-quarter net assets. Fellow investment group Jupiter Fund Management fell 0.3% to 317p after it reported a fall in third-quarter assets under management, as investors bailed on the company's European growth strategy. Media production company Entertainment One shed 0.2% to 561.5p, as it reported wider first-quarter losses owing to lower broadcasting and licencing revenues. Fashion retailer Quiz dropped 3% to 16.17p after it warned of a 5% fall in first-half revenue amid a difficult trading environment in the UK. Interdealer broker TP ICAP added 0.2% to 318.1p, even as it announced that it would pay a £15.4m settlement to the UK's Financial Conduct Authority, regarding an investigation into trades undertaken between 2008 and 2011. Self-storage group Big Yellow firmed 1.4% to 1,089p as it received planning permission for a new store in Hove, England. Chemicals company investor Wilmcote sank 33% after it said talks with potential acquisition target Arclin were cancelled and that pursuing the deal had cost it a 'material' amount. The company also said that it was talking to shareholders about potential funding options. Nostrum Oil & Gas tumbled 31% to 7.29p on announcing that it was unable to sustain a commercial flow of hydrocarbons from a well in Kazakhstan.
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