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UK stocks open 0.4% higher, led by miners

Friday, 14th September 2018
UK stocks opened higher on Friday amid hopes of a potential new round of US-China trade talks, and as the Turkish central bank caved to pressure and raised interest rates.

At 0852, the benchmark FTSE 100 index was up 30.33 points, or 0.4%, at 7.311.90, with miners leading the charge.

BHP Billiton, Anglo American and Glencore added 1.9%, 1.8% and 1.5%, respectively.

Pub operator J D Wetherspoon served up a 4.3% rise in underlying annual profit, as it benefited from warm weather and the World Cup.

However, the company also held its dividend flat amid warnings of cost pressures. Its shares eased back 0.3%.

AstraZeneca added 0.3% after the US Food and Drug Administration granted a priority review of its treatment for hairy cell leukaemia.

Sirius Minerals firmed 2.2% on news that it struck a new deal with Australia's Hancock Prospecting to help fund a fertilizer project in Yorkshire.

The London-listed shares of South African investment bank Investec jumped 12% on news of a plan to demerge its investment management business.

Specialty recruitment group SThree rallied 3.9% after boosting its gross profit by 13% in the third quarter, as strength in continental Europe and the US offset a slump in the UK and Ireland.

Close Brothers gained 1.1% after it sold its unsecured retail lending unit to Swedish payment solutions group Klarna Bank, for an undisclosed sum.

Struggling pallet provided RM2 International fell 1.8% as it posted a $17.3m net loss in the first half.

Nuformix, which uses cocrystal technology to enhance approved small-molecule drugs, jumped 24% after it met a key pre-clinical milestone with Newsummit Biopharma.

Story provided by StockMarketWire.com


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