StockMarketWire.com - UK stocks drifted lower on a particularly quiet Friday for company news after Japanese markets were hit by reports that Prime Minister Shinzo Abe will resign for health reasons.

At 0822, the benchmark FTSE 100 index was down 12.04 points, or 0.2%, at 5,987.95.

The index wilted despite the US Fed on Thursday signaling it would lean more toward driving economic growth rather than fretting about inflation, though the tack was largely expected.

Subprime lender Amigo jumped 24% to 14.92p, even as it reported an 83% slump in first-quarter net profit.

Amigo's revenue was hurt after it granted repayment holidays and paused new lending. The company said it was preparing to restart lending 'on a prudent basis' by the end of 2020.

Sports equipment developer Tandem advanced 3.1% to 386.5p, having forecast a higher first-half profit as wider margins offset a fall in sales.

Tandem said its revenue for the period fell due to a lack of free-on-board orders from national retailers and a limited supply of bicycles, but cost cutting had bolstered its margins.

Infrastructure investment company BBGI was unchanged at 170.2p, even as it raised its dividend target, having reporting a rise in first-half net assets.

BBGI said it was targeting a 2020 dividend of 7.18pps up 2.6% on the 2019 dividend, and a 2021 dividend of 7.33pps, up 2.1% on the 2020 target.

Precious metals miner Resolute Mining firmed 2.0% to 62.5p as it posted a 32% rise in first-half profit after it boosted production and benefited from higher gold prices.

Aquaculture group Benchmark added 1.1% to 46.5p after it reported narrower third-quarter losses, underpinned by higher revenue and margins in its genetics business.

Alternative broadband provider Bigblu Broadband shed 1.4% to 97.1p, having reported deeper first-half losses as pandemic-led disruptions weighed on revenue.

Africa-focused energy company Ncondezi Energy gained 3.2% to 4.78p on news that it had signed a term sheet regarding an investment in its Tete coal-fired power project in Mozambique with China Machinery Engineering Corporation.

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