- After a buoyant start to the year, the FTSE 100 is trading lower, down 0.4% at 7,571.55 at around 8.40am. This follows a US airstrike on Baghdad airport which killed top Iranian general Qassem Suleimani.

Energy regulator Ofgem has announced that following its investigation into power cuts on the 9 August 2019, three energy firms will have to pay out £10.5m.

Bovis Homes has shed 0.2% to £13.26 following an announcement that its acquisition of Galliford Try's Linden Homes and Partnerships & Regeneration businesses has completed.

Galliford Try is one of the morning's biggest fallers, tumbling 82% to 159.5p, as it confirmed the disposal of its housebuilding business to Bovis Homes, meaning Graham Prothero has stepped down as chief executive and leaves the business.

Bill Hocking has now formally taken up his role as chief executive of Galliford Try.

Retailer Next has climbed 0.2% to £69.75 after it reported increased full year profit guidance as sales over the Christmas trading period came in ahead of expectations.

The retailer attributed the sales performance boost to a 'much colder November' than last year and improved stock availability in both its retail stores and online.

Johnson Service, the UK textile services provider, gained 1.6% to 202p as it revealed its Leeds plant opening is on track for Spring 2020 and that it had experienced a strong trading period.

The company also confirmed completion of its Fresh Linen Holdings acquisition.

Ryanair Holdings fell 2.4% to 14.56p despite reporting 9% growth in December traffic to 11.2m passengers.

Mobile Tornado was down 5.2% to 3.60p in early trading on the news that it expects a shortfall in revenues for the full year 2019, as a result of a delay to the full deployment of its solution with a government agency and a major public utility in Israel.

British American Tobacco nudged up 0.8% to £32.92 after it welcomed FDA guidance on the US vapour market and confirmed that its US subsidiary Reynolds American will comply with new flavour guidelines. Story provided by