The FTSE 100 opens 0.2% higher at 7,529.42 supported by dollar weakness and with few domestic macro-economic announcements on the schedule for the coming week.

Bookmaker Paddy Power Betfair (PPB) is down 4.7% at £74.55 as it announces the appointment of Worldpay (WPG) chief executive Peter Jackson to replace the departing Breon Corcoran. The company also says it will post revenue growth of 9% for the first six months of 2017 ahead of full first half numbers out tomorrow.

Defence business Ultra Electronics (ULE) sees first half pre-tax profit down 5.2% to £30.9m, with contracts delayed due to the UK election in June and ahead of the US Federal budget. The shares tick up 0.2% to £20.74 as the company points to a heavy second half weighting underpinned by strong recent order intake.

Internet-of-things play Telit Communications (TCM:AIM) as it swings from a profit in the same period last year to a loss of $6.7m in the first half. The company says 2017 will be second half weighted, with delayed US certification for its products expected to be obtained in the third quarter. Guidance for earnings before interest, tax, depreciation and amortisation of $47m to $60m amounts to a profit warning given house broker Berenberg's previous estimate of $61m.

AIM-quoted miner Premier African Minerals (PREM) gains 23.5% to 0.52p as it updates on its drilling programme at the Zulu lithium project in Zimbabwe. Chief executive George Roach says: 'The current drilling programme has provided in-fill and expansion of the Main Zone, but more importantly, has identified a new zone with potential to exceed the already substantial resources and exploration target of the main zone.

Micro cap transport services specialist 21st Century Technology (C21:AIM) gains 20.8% to 3.62p as it announces a three-year bus systems and services contract with Abellio. The value of the contract is put at £2.5m.

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Issue Date: 07 Aug 2017