StockMarketWire.com - UK stocks opened modestly higher on Tuesday after the Bank of Japan indicated it would keep interest rates low for longer and BP impressed with higher earnings.

At 0902, the benchmark FTSE 100 index was up 10.35 points, or 0.1%, at 7.711.20.

Oil major BP gained 1.4% after higher oil prices and production drove a better-than-expected increase in second-quarter profit, helping the company reduce its debt pile.

Energy utility Centrica slumped 4.9% on the back of a 20% fall in first-half adjusted operating profit and more customer losses.

Standard Chartered reported a 34% increase in first-half profit after it issued more credit and bad loans fell, though the numbers missed market expectations and the bank's share fell 3.6%.

Sub-prime lender Provident Financial gained 11.9%, even as it booked a 53% fall in first-half profit following a poor performance in its home credit business.

Bakery chain Greggs puffed 8.8% higher, as robust demand for its value meals drove increased first-half profits and revenue.

Home improvement retailer Travis Perkins sunk 10% owing to a write down in the value of its Wickes business in a challenging DIY market, which sent it to a first-half loss.

House builder Taylor Wimpey booked a small fall in adjusted first-half profits after severe winter weather earlier in the year led to lower home completions. Its shares nevertheless gained 0.3%.

Pest control group Rentokil Initial shed 2.4% after a rising pound drove a modest fall in adjusted first-half profit.

Sirius Minerals perked up 2.5% on news it had signed up US agribusiness giant Archer Daniels Midlands as a North American offtake partner for its fertilizer products.

Travel group Thomas Cook gained 3.0%, as investors looked past a fall in third-quarter profit owing to tough competition at Spanish destinations and focused on 12% growth in summer bookings.

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