StockMarketWire.com - UK stocks opened higher on Tuesday after Donald Trump said a US trade deal with China was 'fully intact', negating earlier claims by White House adviser Peter Navarro that a pact was 'over'.

At 0821, the benchmark FTSE 100 index was up 46.91 points, or 0.8%, at 6,291.53, tracking a rise on Asian exchanges.

Property portal Rightmove fell 1.0% to 583.4p on announcing that it would continue to offer discounts to customers through August and September, taking another chunk out of its revenues.

Meat producer Cranswick sizzled, rising 2.4% to £37.18, after it hiked its dividend on the back of a higher profit, underpinned by new contract wins and strong export demand.

Footwear retailer Shoe Zone slipped 1.7% to 86p as it swung to a first-half loss and scrapped its interim dividend, while warning the impact of the Covid-19 crisis would likely be felt 'for several years.'

Wealth manager St. James's Place firmed 1.9% to 958.4p after its funds under management increased in May on-year, boosted by positive net inflows.

Musical equipment retailer Gear4music rallied 19% to 380p, having swung to a better-than-expected annual profit driven by margin improvement.

Tools, equipment and plant rentals group Speedy Hire added 1.8% to 56.8p, even as it booked a 28% slide in annual profit owing to a write down on the value of its Geason Training business, offsetting a rise in sales.

Speedy Hire did not declare a final dividend, citing uncertainty caused by the Covid-19 crisis.

Healthcare and industrial engineer Scapa slumped 10% to 107.59p, having swung to a deep full-year loss, after it lost a key contract with medical products group ConvaTec.

Specialist engineering group TP jumped 7.3% to 8.26p on winning an initial contract worth £0.3m with Gulf Data International, an IT solutions provider and systems integrator based in Abu Dhabi.

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