StockMarketWire.com - After a modest open, taking its cue from late weakness on Wall Street overnight, the FTSE 100 started to recover some ground, up 4.79 points at 7,627.32.

Bus and coach operator group Stagecoach slashed its dividend Thursday as adjusted annual pre-tax profit and revenue slipped and the company reported an £85.6m hit from the loss of the East Coast mainline franchise earlier this year. The full year dividend was cut to 7.7p per share from 11.9p a year earlier. The shares were down 6.7% to 125.1p

Greene King reported Thursday annual adjusted pre-tax profits fell 11.2% and revenue slipped 1.8% as performance was hampered by poor weather. The company said it expected the trading environment to remain challenging for some time. The shares fell 9.1% to 580.2p

For the 12 months to 29 April, adjusted pre-tax fell 11.2% to £243m, revenue fell 1.8% to £2.18bn and earnings (EBITDA) fell 7.2% to £489.6m

Like-for-like sales growth in Pub Company fell 1.2%, Pub partners revenue fell 2.5% to £193.9m and Brewing & Brands revenue was up 7.2% to £215.1m. But performance had improved in the new financial year, the company said.

Oil producer Tullow Oil slipped 0.9% to 248.1p despite raising production guidance for 2018 to be between 89,000 to 95,000 barrels of oil equivalent a day compared with a previous range of 86,000 to 95,000 barrels of oil equivalent per day.

Oil services firm Wood Group maintained its full-year outlook as the oil and gas market steadied in the first half.

The company said it expects to deliver first half revenue of close to $5.1bn to $5.2bn and earnings (EBITA) between a $250m to $260m range.

The company said it was confident of delivering full-year 2018 EBITA in line with guidance and market expectations. Investors were clearly not fully convinced with the shares falling 1% to 656.4p.

Energy major BP said Thursday it would acquire the UK's biggest electric vehicle company Chargemaster.

Chargemaster operates over 6,500 electric vehicle charging points across the UK, and sells and maintains EV charging units across a wide range of locations, including home charging.

The acquisition is expected to bolster the number of charging points at BP's service stations across the country.

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