StockMarketWire.com - UK stocks opened modestly higher on Friday after the US and China reported progress on trade talks and Theresa May and Jeremy Corbyn attempted to hammer out a palatable Brexit compromise deal.

At 0838, the benchmark FTSE 100 index was up 6.15 points at 7.408.09.

Gambling company GVC edged 0.1% higher after it reported an 8% increase in first-quarter net gaming revenue, as soft gross win margins in Italy and the UK were offset by improved margins in other territories.

Electricity producer ContourGlobal gained 4.7% on the back of a 19% rise in annual adjusted profit. The company also announced that it had hired Stefan Schellinger as its new chief financial officer.

Miner and commodities trader Ferrexpo added 1.0%, despite it reporting a modest fall in first-quarter iron-ore pellet production.

Flavour and fragrance ingredient supplier Treatt advanced 1.6%, as its first-half revenue grew by 7% despite price weakness in its key citrus category.

Auto retailer Motorpoint fell 6.5% after it announced that a weaker second half had limited its annual adjusted profit growth to 10%.

K3 Capital Group plunged 20% after it warned on profits as Brexit uncertainty weighed on its ability to wrap up a new business in its corporate finance division.

Marketing company Matomy Media dropped 8.9%, even as it announced that it was considering an offer of $36m to sell its 90% stake in Team Internet.

Cancer diagnostics group Oncimmune rose 3.2% as it signed an exclusive agreement for the distribution of its lung cancer test kit in Portugal with Sabartech, its existing distributor in Spain.

LED lighting supplier ProPhotonix gained 2.8%, as its annual losses didn't turn out to be as deep as feared and it forecast a delayed product launch to come through this year.

Tube manipulation specialist Tricorn jumped 14% on guiding for a 30% rise in adjusted annual profit, as strength at its transport division offset weaker sales at its energy division.

Gambling company technology provider Nektan gained 2.5% after it posted a 5.9% rise in third-quarter revenue on-year, bolstered by its business-to-business unit. Story provided by StockMarketWire.com