StockMarketWire.com - UK stocks opened lower on Tuesday after Donald Trump said the US was likely to hike tariffs on $200bn of Chinese goods and travel company Thomas Cook plunged on yet another profit warning.

At 0855, the benchmark FTSE 100 index was down 11.85 points, or 0.2%, at 7.024.15.

Thomas Cook tumbled 30% as it warned its annual operating earnings would fall 19%, marking in its second downgrade in two months, amid heavy discounting at its tour operating business.

The company also suspended its full-year dividend.

Bakery chain Greggs was having a better morning. Its shares puffed 14% higher as it upgraded its expectations for full-year profits on the back of strong October and November sales of sausage rolls, sandwiches and pizzas.

Meat producer Cranswick fell 4.7% as softer pricing in Asian export markets kept a lid on revenues and bottom-line profit fell, all despite the warm summer extending the UK barbecue season.

Pet-product retailer and vet group Pets at Home Group booked an 81% fall in first-half profit, as margins shrank and it decided to buy back some struggling joint venture practices in its veterinary network. Losses in its shares, however, were limited to 0.7%.

Quality assurance provider Intertek added 0.9% amid a modest rise in revenue in the 10 months through October.

Water utility Pennon climbed 2.0% as demand over Britain's warm summer buoyed profits.

Fashion retailer Quiz rose 3.3% after soaring online sales helped it book a 4% rise in first-half profit.

Ingredient and flavoring supplier Treatt gained 3.5% as it posted a slight fall in annual profit owing to costs associated with relocating its UK headquarters. Its underlying earnings, revenue and dividend all rose.

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