UK stocks open 0.4% lower as regulators put tech companies in crosshairs

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UK stocks opened lower on Tuesday, tracking falls on European exchanges, as fears of a potential US regulatory crackdown on tech companies added to concerns about US-China trade tensions.

At 0836, the benchmark FTSE 100 index was down 25.44 points, or 0.4%, at 7.159.36.

Royal Dutch Shell fell 1.3% despite the oil giant stating that it could potentially distribute $125bn or more to shareholders over the five-year period between 2021 to 2025.

Shell said it would raise its dividend when there was a 'line of site' to the completion of its current $25bn share buyback programme, due by the end of next year.

Photonics system developer Gooch & Housego slumped 22% after it booked a fall in first-half profit and cut its full-year outlook, amid ongoing US-China trade tensions.

Online electrical-appliance retailer AO World dropped 2.0% as it reported a wider pre-tax loss that it pinned, in part, on changes to driver scheduling arrangements in Germany.

Online gambling group 888 shed 2.2% after it reported a 2% rise in sales for the year to date, and a 6% rise on a like-for-like basis.

Shopping centre group Intu Properties fell 1.2% on announcing that it had appointed former Crest Nicholson finance head Robert Allen as its new chief financial officer. Interim CFO Barbara Gibbes would resume her duties as director of finance.

Budget carrier Wizz Air fell 0.8%, despite it reporting a 22% rise in passenger volumes during May, as it added new routes to and from Poland and Ukraine.

Equipment rental specialist Vp rallied 10% after it posted a 9% rise in annual profit, buoyed by higher sales in the UK.

NewRiver REIT fell 6.5% after it announced that it had sold an Asda foodstore and petrol station in Wales to a private investor for £17.9m, below its book value.