The FTSE 100 is slightly lower in early trading at 7,500.11 as sterling stabilises and Prime Minister Theresa May prepares for a crunch meeting with her own MPs.
Negotiations with the Democratic Unionist Party (DUP) continue as May looks to secure a so-called 'confidence and supply' arrangement to allow her to govern despite failing to secure an outright majority last week.
New chief executive Phil Bentley's plan to fix problems at outsourcer Mitie (MTO) gets early approval from the market. Alongside results for the 12 months to 31 March, which reveal an operating loss of £42.9m, the company cancels its final dividend but signals a return to 'modest growth' in the current financial year. The shares are up 10.5% to 272.8p.
Glasgow-based engineer Weir (WEIR) dips 1.7% to £18.69 as it expands into Asia through the £89m capture of Singapore firm KOP. The company designs and manufactures equipment for the oil industry.
Oil and gas play Sound Energy (SOU:AIM) drops 4.6% to 63.9p after an update on drilling operations in Morocco and Italy. This includes a re-entry into the Moroccan Koba-1 well and a key exploration well on its Badile prospect, with an update on the latter expected later this month.
The chief executive of Sound, James Parsons, is a busy man with the reboot of Echo Energy (ECHO:AIM) (formerly Independent Resources) he is leading gathering pace. The group announces the appointment of Rockhopper (RKH:AIM) chief operating officer Fiona MacAuley as its new CEO. Parsons, who chairs the South American focused company, also unveils former BG man Julian Bessa as vice president of exploration. The shares are up 13.4% to 17.7p in response.
