The combination of lower commodity prices and stronger sterling hitting the value of overseas earnings continues to undermine the FTSE 100 - down a handful of points at 7,109.65.
Consumer goods giant Unilever (ULVR) ticks up 1.5% to £39.96 as first quarter sales top expectations thanks to price increases. Underlying sales were up 2.9% ahead of consensus forecasts for growth of 2%. The positive update is helpful given management's swift rejection of a $143bn takeover approach from US rival Kraft Heinz in February.
Transport operator Go-Ahead (GOG) is up 5.3% to £18.20 as it reaffirms full year guidance after a stabilisation of its troubled Southern Rail franchise. The third quarter update says discussions are ongoing over a long-running dispute over the safety of driver-only operated trains.
Miner Rio Tinto (RIO) ticks up 0.7% despite first quarter production falling 37% month on month due to issues at its mines in Chile and Indonesia. Full year copper output guidance is reducted from between 525,000 and 665,000 tonnes to between 500,000 and 550,000 tonnes.
Department store Debenhams (DEB) falls 4.2% to 53p as new CEO Sergio Bucher's strategic update gets a lukewarm reception. Bucher plans to make the stores a destination for 'social shopping' and plans to make efficiency gains.
Having previously planned to allocate £350m to the turnaround plan out to 2020, the cost has now increased by £100m.
Interim results unveiled alongside the update were broadly in line with expectations with pre-tax profit down 6.4% to £87.8m