UK stocks opens higher on Tuesday as investors hold out hope that ongoing high-level talks between the US and China would produce a cooling of trade tensions and amid reports UK and EU officials are looking to extend Article 50 to avoid a no-deal Brexit.
The FTSE 100 is up 38.45 points, or 0.6%, at 6.849.33.
Supermarket chain Morrisons (MRW) fell 2.1% as a 3.6% rise in like-for-like sales during the crucial Christmas trading period failed to inspire investors as it came in slightly behind expectations.
Morrisons is the first of the listed supermarkets to report on festive performance with Sainsbury's (SBRY) following tomorrow and Tesco (TSCO) on Thursday.
Power utility National Grid (NG.) adds 1% as it reaches a 'satisfactory agreement' in contract negotiations with two Massachusetts gas unions over employment terms and conditions.
Pub group Greene King (GNK) advances 4.1% after robust Christmas trading inspires increased confidence in the company's full-year outlook.
Footwear retailer Footasylum (FOOT:AIM), however, tumbles 15%, as it warns its earnings would be toward the lower end of market expectations.
The company also says it plans to cut costs to improve shrinking margins.
Lifestyle fashion brand Joules (JOUL:AIM) is doing better on the high street, gaining 4.6%, as it maintains its outlook on full-year profits amid strong Christmas sales growth.
Building materials supplier SIG (SHI) reverses 4.5% as it announces it expects to report a fall in annual profit, as revenue weakened in the second half.
Storage company Safestore (SAFE) is up 4.1% after it more than doubles its annual profit, as it boosted sales in both London and Paris and enjoyed a rise in the value of its investment properties.
Recruitment agency and training group Staffline (STAF:AIM) sheds 5.7%, as it warns one-off costs would offset an 18% rise in annual revenue and push up its debt levels.
Issue Date: 08 Jan 2019