StockMarketWire.com - UK stocks moved modestly higher in mid-morning trading on Tuesday as the country's latest PMI data showed its dominant services sector stopped contracting in October.

The sector registered a reading of 50, showing no change in output. A reading above 50 signifies growth.

The all-sector PMI, which gives weighted figures for services, manufacturing and construction, gave a reading of 49.5, indicating an overall economic slowdown in October.

At 1200, the benchmark FTSE 100 index was up 13.97 points, or 0.19%, to 7,383.66.

LARGE AND MID CAP RISERS AND FALLERS

Associated British Foods rallied 5% to £23.61, as it reported a higher adjusted annual profit, buoyed by rising earnings at clothing retailer Primark.

The company also said that it expected the performance of its lagging sugar division to improve in the current financial year, though it warned a weaker pound would pressure Primark's margins.

Tobacco giant Imperial Brands dipped 0.4% to £17.31 as it offered a more cautious outlook after its annual operating earnings fell amid pressure on its vaping business.

The company also announced that it had appointed current director Therese Esperdy to succeed Mark Williamson as chairman.

Engineering company Weir rose 2.1% to £14.62, despite warning that annual operating profits in its oil and gas division would be below previous expectations owing to weakness in US shale markets.

Power utility National Grid fell 0.4% to 893p after announcing that the head of its US business, Dean Seavers, was standing down with immediate effect for personal reasons.

Serviced office specialist IWG fell 1.5% to 389p, even as it reported a 13.2% rise in third-quarter revenue.

Train and bus ticketing platform Trainline reversed 0.7% to 418p after it posted a deeper first-half loss, largely owing to costs associated with its initial public offering that offset a rise in sales.

Budget carrier Ryanair fell 0.8% to €13.40 on reporting 5% growth in passenger volumes during the month of October on-year.

Rival carrier Wizz Air dropped 0.7% to £38.76 after it flew 21% more passengers during October as it continued to beef up capacity.

SMALL CAP RISERS AND FALLERS

Gambling software-as-a-solution company GAN moved 10.5% higher to 127p after it reported a 222% rise in revenue to $121.5m for the four months to 31 October.

Consumer goods group UP Global Sourcing, also known as Ultimate Products, climbed 7.9% to 83.6p as it booked a 51% jump in annual profit driven by a doubling of its international revenue.

Tiling retailer Topps Tiles slid 1.6% to 72p on announcing that chief executive Matt Williams would stand down following the release of the company's annual results later this month.

Williams would be replaced by current chief financial officer Rob Parker on 29 November.

Nano materials group Nanoco jumped 11.3% to 16.7p on announcing that it had entered into preliminary discussions with 'certain parties' about a potential sale of the company.

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