StockMarketWire.com - Early gains in UK stocks reversed after the supreme court ruled that prime minister Johnson illegally prorogued parliament, which sent the pound higher.

At 16:30, the benchmark FTSE 100 index was down 34 points, or 0.46%, at 7,292.35.

Travel company TUI gained 6.7% to 962.2p after it reiterated its underlying earnings guidance and said its summer season was closing out in line with its expectations.

TUI also said it was preparing to assist customers stranded by the collapse of Thomas Cook and was assessing the short-term impact of its rival's demise on its full-year results.

Budget carrier Ryanair rose 1.8% to 10.22 cents after it inked a new collective agreement with cabin crew.

Card and gifts retailer Card Factory added 4.14% to 168.7p, despite posting a 14% fall in first-half profit, as it notched 1.5% growth in like-for-like sales.

Ten Entertainment rallied 5.2% to 242p on posting a 22% rise in first-half profit, after it attracted more people to its bowling alleys and encouraged them to spend more on things like food and drink.

Men's suit retailer Moss Bros lost 1.2% to 19p, after scrapping its interim dividend, after tough trading conditions drove it to another first-half loss.

Advertising company M&C Saatchi dropped 13.45% to 148p, as its underlying earnings slumped and it downgraded its full-year guidance.

Hostel owner Safestay fell 3% to 30.5p despite announcing that it had entered into a joint venture partnership with EOS Sicav to develop a 660-bed hostel in Venice.

Chocolate retailer Hotel Chocolat finished flat on the day at 370p despite posting a rise in annual profit.

Allied Minds shares fell by 2.8% to 58.3p after it agreed to sell its entire stake in portfolio company HawkEye 360 to Advance for $65.6m, with half the cash to be returned to shareholders.


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