London open: Stocks in the red after North Korea missile test
London stocks fell in early trade, taking their cue from a downbeat session Asia after North Korea fired a missile into Japanese waters.
At 0825 BST, the 100 was down 0.4% to 7,345.41, while the pound was flat against the dollar and the euro at 1.2945 and 1.1393, respectively. US markets will be closed for Independence Day, so volumes may be lighter than usual.
Geopolitical tensions were in focus as North Korea said it has successfully test-launched a long-range intercontinental ballistic missile, which the country claimed could potentially reach anywhere in the world.
Meanwhile, investors in the UK were looking ahead to the release of the construction purchasing managers' index at 0930 BST.
Spreadex analyst Connor Campbell said: "Following on from Monday’s manufacturing figure - which, though disappointing, did leave the UK with a solid average over the quarter as a whole - the construction PMI is set to fall month-on-month, from 56.0 to 55.0. The construction data is arguably the least important of the week’s 3 PMIs, especially compared to Wednesday’s services reading. Nevertheless a significant drop, like the one expected, could well nudge sterling into the red."
In corporate news, payments processor Worldpay was the standout gainer on rumours it may be a takeover target.
Sainsbury's edged higher after reporting a strong start to its financial year as grocery sales growth accelerated and general merchandise, including Argos, outperformed the market.
Low-cost airline Wizz Air nudged up as it reported a 23.6% jump in passenger number on the year in June to 2.49m, while the load factor - which gauges how full the flights were - nudged up to 92.3% from 91.7%.
Budget airline Ryanair was also higher after it posted a 12% rise in passenger numbers in June to 11.8m, while the load factor ticked up to 96% from 94%.
Going the other way, St Modwen Properties retreated after its half-year results, while Hunting edged down after saying it expects to report a positive EBITDA but remain loss-making in the first half.
Imagination Technologies was under the cosh after it said it swung to a full-year pre-tax profit but that it had made no progress in its dispute with Apple, which announced earlier this year that it would not be using the company’s technology in new products.
Market Movers
FTSE 100 (UKX) 7,345.41 -0.43%
FTSE 250 (MCX) 19,266.63 -0.28%
techMARK (TASX) 3,481.95 -0.46%
FTSE 100 - Risers
Worldpay Group (WPG) 336.60p 5.35%
Sainsbury (J) (SBRY) 251.60p 1.08%
Tesco (TSCO) 168.60p 0.75%
International Consolidated Airlines Group SA (CDI) (IAG) 608.50p 0.25%
easyJet (EZJ) 1,360.00p 0.22%
Associated British Foods (ABF) 2,927.00p 0.17%
ITV (ITV) 180.40p 0.17%
Lloyds Banking Group (LLOY) 66.79p 0.12%
Whitbread (WTB) 3,928.00p 0.08%
Fresnillo (FRES) 1,467.00p 0.07%
FTSE 100 - Fallers
Anglo American (AAL) 1,047.00p -1.69%
Rio Tinto (RIO) 3,319.50p -1.63%
Antofagasta (ANTO) 812.00p -1.46%
Ashtead Group (AHT) 1,567.00p -1.07%
HSBC Holdings (HSBA) 722.00p -1.07%
Glencore (GLEN) 298.70p -0.96%
Standard Chartered (STAN) 779.00p -0.89%
Scottish Mortgage Inv Trust (SMT) 397.50p -0.87%
Shire Plc (SHP) 4,201.00p -0.76%
AstraZeneca (AZN) 5,124.00p -0.76%
FTSE 250 - Risers
PayPoint (PAY) 888.00p 2.72%
CLS Holdings (CLI) 208.00p 2.56%
Wetherspoon (J.D.) (JDW) 984.50p 2.23%
Euromoney Institutional Investor (ERM) 1,067.00p 2.01%
National Express Group (NEX) 370.50p 1.81%
McCarthy & Stone (MCS) 165.70p 1.28%
Sanne Group (SNN) 643.00p 1.26%
Go-Ahead Group (GOG) 1,788.00p 1.19%
Pets at Home Group (PETS) 161.00p 1.13%
Clarkson (CKN) 2,537.00p 1.08%
FTSE 250 - Fallers
Acacia Mining (ACA) 273.40p -4.84%
Sirius Minerals (SXX) 27.60p -2.92%
Evraz (EVR) 214.50p -2.50%
Kaz Minerals (KAZ) 526.50p -2.32%
Sophos Group (SOPH) 442.20p -2.23%
Just Group (JUST) 125.60p -1.95%
Ferrexpo (FXPO) 205.00p -1.82%
Hastings Group Holdings (HSTG) 309.40p -1.59%
QinetiQ Group (QQ.) 264.60p -1.42%
Metro Bank (MTRO) 3,559.00p -1.39%