- UK stocks opened substantially lower on Monday as global trade tensions simmered and German Chancellor's Angela Merkel's grip on power looked increasingly tenuous.

At 0858, the benchmark FTSE 100 index was down 74.77 points, or 1.0%, at 7.562.16.

Video game developer Playtech plunged 24% after it downgraded its earnings guidance, blaming intense competition in Asian markets.

India-focused Vedanta Resources soared 27% after chairman Anil Agarwal's family trust Volcan Investments agreed to buy the rest of the miner it didn't already own, valuing it at £2.33bn.

Tesco, meanwhile, said it and French retailer Carrefour had formed a strategic relationship with global suppliers that would involve joint purchasing of own-brand products. Tesco shares fell 0.9%.

Software group Micro Focus International rallied 2.3% on the back of news it had agreed to sell its Suse unit to funds advised by EQT Partners for $2.54bn.

AstraZeneca announced that separate treatments for lung and breast cancer were approved by Japanese regulators. The shares nevertheless fell 0.9%.

Meggitt, a component supplier to the aerospace, defence and energy markets, gained 3.4% as it upgraded its annual revenue guidance.

Niche plastics manufacturer Plastics Capital shed 2.2% after it posted a fall in annual adjusted profit, and paid no dividend, as rising revenue was offset by a squeeze on margins.

Regeneration developer and investor U+I Group said it had been appointed as masterplanner and promoter to transform a water-recycling centre in north Cambridge into a major residential-led mixed-use urban quarter. Its shares added 0.2%.

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