StockMarketWire.com - Amid radio silence on the latest US-China trade talks the FTSE 100 was up 0.3% by midday and just a smidge above the 7,200 mark.

Other European markets were also trading higher despite US futures pointing to a tepid open when trading resumes on Wall Street later.

Sainsbury's fell 15.5% to 243.4p after the UK Competition and Markets Authority expressed 'extensive' concerns with the Asda tie-up, putting the deal in doubt.

LARGE AND MID CAP RISERS AND FALLERS

Lloyds Banking Group added 4.6% to 61p on launching an up to £1.75bn buyback and booking a rise in annual profit that nevertheless missed market expectations.

Glencore dipped 0.1% to 302p as it launched a $2bn buyback after also improving its earnings. The company announced a cap on coal production.

Shopping centre operator Intu Properties shed 8% to 109p after swinging to a loss for the full year and cancelling its dividend, as a challenging retail backdrop and Brexit uncertainty hurt sentiment and reduced property values.

Pharmaceutical company Indivior launched a generic version of its opioid addiction treatment in the US to counter the launch of copycat products by rivals. Its shares fell 0.5%.

SMALL CAP RISERS AND FALLERS

Cleaning products supplier McBride plunged 30% to 89.9p as it warned of a fall in annual profit of up to 15% amid higher raw material and distribution costs.

Surgical Innovations, a technology supplier for minimally-invasive surgery, reversed 2.1% to 2.94p on confirming that it had reassigned its product certification to the Netherlands as a precaution against a possible no-deal Brexit.

Cell-based therapeutics developer ReNeuron gained 17% to 55.6p on news that it had recorded successful results in a clinical trial of a treatment for the blindness-causing disease retinitis pigmentosa.

San Leon Energy jumped 18% to 36.3p after it launched a share buyback of up to $30m by way of a tender offer.

Pan African Resources fell 3.7% to 10.3p despite posting a 30% rise in first-half profit owing to higher gold production. Story provided by StockMarketWire.com