StockMarketWire.com - UK stocks opened lower on Wednesday as global trade tensions simmered and China stocks moved deeper into bear market territory.

At 0859, the benchmark FTSE 100 index was down 9.85 points, or 0.1%, at 7.528.07.

Whitbread, which owns the Premier Inn hotel and Costa coffee chains, gained 1.3%, as the addition of new hotel rooms helped boost sales in the first quarter by 3.2%.

Ultra Electronics slipped 4.9% after it downgraded is first-half profit guidance due to cost overruns at its Herley defence and aerospace unit in the US.

Office-space provider and takeover target IWG shed 4.3% on the back of a profit warning, which it blamed on a weaker-than-expected performance in the UK and higher investment spending.

Television broadcaster ITV shed 2.7% on news that chief financial officer Ian Griffiths would retire in the next 12 months.

Distribution and outsourcing group Bunzl dropped 1.8% after an 11% increase in first-half revenue failed to inspire the market.

AstraZeneca said a trial of its ovarian cancer drug met its primary objective of delaying the progression of the disease. The pharmaceutical giant's shares tacked on 0.2%.

Luxury furniture group Walker Greenbank added 1.3%, despite lower year-to-date sales, amid early signs condition were improving its key UK and US markets.

Printing technology company Xaar slumped 15% after warning that it would miss revenue targets at its legacy ceramics business, prompting a fresh round of cost cutting.

Advanced materials supplier Velocity Composites gained 3.7%, as it secured an extension to a commercial aircraft manufacturer supply contract.

Facilities management provider Mitie Group said UK authorities were no longer investigating the company's disclosure practices. The news, however, did little to help the shares, which fell 1.3%.

Marketing services group St Ives gained 1.0% after it announced chief executive Matt Armitage would retire at the end of the current financial year, to be replaced by chief digital officer J Schwan. Story provided by StockMarketWire.com