StockMarketWire.com - UK stocks opened higher on Wednesday as a weaker pound helped boost exporters and hopes grew that China would offer further stimulus measures to cushion itself from a trade war.

At 0900, the benchmark FTSE 100 index was up 25.14 points, or 0.3%, at 7.743.62.

Mining and trading giant Glenore booked a 13% rise in first-half profit, supported by higher commodity prices, but refrained from expanding its share buyback programme. The shares pared earlier losses to eke out a 0.1% gain.

Paddy Power Betfair lost 2.3% after the gambling house downgraded its annual earnings guidance, as higher revenue was offset by new taxes in Australia and it incurred losses from its US fantasy sports business.

Infrastructure supplier Hill & Smith tumbled 20% after it booked a fall in first-half profit and scaled back its expectations for the full-year.

Bellway shed 4.3%, as the home builder forecast a rise in first-half revenue by slightly weaker operating margins.

Quilter, the asset management business spun out of Old Mutual, posted a gain in first-half profit after positive inflows into its funds offset weaker market conditions. Its shares climbed 1.5%.

TI Fluid Systems rallied 6.4% after the manufacturers of fluid storage and delivery systems for light vehicles eked out a modest rise in profit despite a tough new car market and weakening pound.

Steam management system and pump supplier Spirax-Sarco Engineering gained 1.1% after it posted a 21% rise in first-half profit, as a strong recovery in US industrial production offset some softer conditions in Asia.

Healthcare services provider UDG Healthcare dropped 4.9%, despite reiterating full-year earnings guidance and agreeing to sell its lower-margin Aquilant division to private equity firm H2 Equity Partners for up to €23m ($27m).

Recruitment agency PageGroup posted an 18% rise in first-half profit, as strong performance from its offshore operations offset weakness in the UK. Its shares added 0.7%.



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