StockMarketWire.com - UK stocks edged higher at the open on Tuesday after positive earnings updates from the likes of Google-owner Alphabet and UBS helped boost global sentiment.

Asian exchanges were also helped by indications from China that it would do more to stimulate its economy.

At 0857, the benchmark FTSE 100 index was up 6.99 points, or 0.1%, at 7.662.78.

BT Group added 1.2%, even as it warned that earnings at its broadband business would be hurt by price discounting. The telecom giant nevertheless left its overall annual guidance unchanged.

AstraZeneca agreed to sell the commercial rights to its heart failure and hypertension treatment in Europe to Cheplapharm Arzneimittel, for up to $210m. The pharmaceutical group's shares shed 0.4%.

Consumer goods group PZ Cussons fell 2.8% after subdued market conditions in Nigeria and the UK send its annual profit 23% lower and the company warned of another challenging year ahead.

Softdrinks retailer Britvic sparkled, rising 2.6% on the back of a solid rise in third-quarter revenue -- that came despite a shortage of carbon dioxide in the UK.

Fellow fizzy drinks purveyor Fever-tree rallied 10%, as first-half profit jumped 36% and the company said its full-year performance would 'comfortably' exceed expectations.

Power generation company Drax shed 6.0%, as unplanned outages sent it to another annual loss.

Instrumentation and controls company Spectris shed 8.5%, as investors expressed disappointment with a modest 6% rise in annual underlying profit.

Shopping centre owner Hammerson launched a £300m buyback programme as first-half profits were roughly flat amid a 3% slump in rental income. The shares tacked on 0.3%.

Student accommodation developer Unite Group booked a 70% rise in pre-tax profit, driven by higher rental income and lower operating expenses. The shares gained 0.1%.



Story provided by StockMarketWire.com