StockMarketWire.com - UK stocks opened lower on Wednesday as ongoing trade tensions between the US and China stoked global growth fears.

At 0847, the FTSE 100 was down 65.94 points, or 0.9%, at 7.203.01.

London-focused residential property developer Telford Homes dropped 2.8% after itbooked a 13% fall in annual profit and held its dividend steady. The company said its margins were hurt by an increasing focus on the buy-to-rent sector.

London Southend Airport owner Stobart jumped 9.9%, despite swinging to a full-year loss owing to a series of one-off expenses including airline marketing costs and infrastructure write-downs.

Revenue jumped 39% and the company said it had entered the new financial year with 'increased confidence'.

Information services company Experian fell 0.7% as it announced that it had appointed current board member Mike Rogers as its new chairman. Rogers would replace Don Robert, who announed his departure back in December.

Self-management investment trust company Caledonia Investments fell 0.6% as it reported a surge in profits, underpinned by gains in its investment portfolio.

Banknote authentification group Spectra Systems advanced 2.8% on guiding for profits in the current calendar year to exceed market expectations.

Retail stockbroker Share, which operates the Share Centre, gained 0.8% after its commission and fee revenue grew by 2% in a challenging first quarter.

Industrial software company Aveva added 1.3% as its profits grew by more than third.

EasyHotel gained 4.1% even as it swung to a modest loss for the year due to temporary closure of its Old Street property in London, which offset a rise in sales.

Digital performance marketing services provider XL Media added 2.0% after it announced that it intended to continue a share buyback programme initiated in December.

Customer engagement software provider Netcall tumbled 13% on downgrading its annual earnings guidance, blaming purchasing delays for hurting product sales.

Pharmaceuticals company Vectura fell 0.3%, despite announcing that its current outlook remained in line with its guidance for the full year, and that it was considering returning capital to shareholders. Story provided by StockMarketWire.com