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UK stocks opened higher on Tuesday despite a surge in local jobless claims, as investors continued to warm to promising early results from a Covid-19 vaccine trial conducted by Moderna.
At 0820, the benchmark FTSE 100 index was up 36.05 points, or 0.6%, at 6.084.64.
UK jobless claims jumped 856.5k in three months through March, above market expectations of a 675k rise, though the unemployment rate improved to 3.9%.
Tobacco giant Imperial Brands slumped 5.2% to £15.675 as it cut its dividend by a third and booked a weaker first-half profit, owing to a fall in vaping sales and tobacco volumes.
Food services company Compass fell 3.7% to £11.105 after it launched a £2bn equity fundraise to boost its liquidity and pulled its guidance, having reported lower half-yearly profit.
The placing price was being determined via a bookbuild process, Compass said.
Copper miner Antofagasta dropped 3.0% as it decided to slash its 2019 final dividend to 7.1c per share, down from the 24.4c previously indicated.
Enterprise software company Micro Focus International rallied 7.6% to 454.2p, even as it warned of potential asset writedowns, after its constant currency revenue slumped 11% in the first half of its financial year.
Flooring retailer Topps Tiles dropped 2.4% to 37.1p as it swung to a first-half loss after its revenue slipped due to the Covid-19 crisis and a tough trading environment before the pandemic hit.
Topps Tiles scrapped its interim dividend and said it was unlikely to pay a final dividend, too, as the pandemic continues to weigh on sales.
Healthcare services provider UDG Healthcare gained 3.5% to 645p as its interim profit more than doubled, though it warned its performance in the second half would be impacted by the Covid-19 crisis.
Cleaning products provider McBride rallied 12% to 64.27p, having upgraded its annual profit guidance as it continued to experience heightened demand for cleaning products, though off an earlier peak.
Adjusted pre-tax profit for the year through June was expected to be around 15% ahead of currently market expectations, McBride said.
Wind farm investor The Renewables Infrastructure Group shed 1.7% to 125.2p after it launched a share issue to pay down debt and fund potential acquisition opportunities.
New shares in the company would be issued at 120p per share, representing a 5.8% discount to their closing price on Monday.
Rental property and student accommodation focused developer Watkin Jones firmed 3.9% to 156.4p as it reported a 19% rise in first-half profit, but acknowledged the gains were largely made before the Covid-19 crisis hit.
Watkin Jones said it had gradually been able to reopen most of its development sites.
Technology supplier to the gambling and broadcast industries Quixant added 6.5% to 95.82p, having noted positive signs of recovery emerging in global gambling markets.