StockMarketWire.com - UK stocks made modest gains in early trading on Tuesday after a number of companies, including oil giant BP, either resumed or lifted capital returns to shareholders.

At 0815, the benchmark FTSE 100 index was up 9.80 points, or 0.1%, at 7.091,52.

Oil major BP gained 2.7% to 297.46p, having upped its quarterly dividend and unveiled plans for a $1.4 billion buyback after swinging to a profit on rising oil prices.

BP's underlying replacement cost profit was $2.8 billion compared with a year-on-year loss of $6.68 billion. It declared a quarterly dividend of 5.46c per share, up 4% year-on-year.

Banking group Standard Chartered added 0.2% to 437.4p after it booked a 57% rise in first-half profit, as a drop off in credit impairments more than offset a fall in revenue.

Standard Chartered resumed its interim dividend at 3c per share and said it would immediately start a $250 million share buyback.

Insurance companies Hiscox and Direct Line also were in demand, rising 3.9% to 899.64p and 3.2% to 309p, respectively, as they both unveiled improved financial results.

Hiscox reinstated its interim dividend at 11.5c per share, while Direct Line upped its payout by 2.7% to 7.6p per share.

Bakery chain Greggs rose 2.7% to £28.24, having declared its first dividend since 2019 after it reported a jump first-half profit underpinned by cost cutting.

Greggs declared an interim dividend of 15p share while also citing a strong cash position.

Pizza chain Dominos was flat at 421.8p, even as it announced a rise in first-half profit, plus a £35 million share buyback.

Domino's pre-tax profit rose 28% to £60.8 million, amid strong lockdown sales and promotional activity during the the Euros football competition.

Builders' merchant Travis Perkins shed 1.1% to £17.02 despite it swinging to a first-half profit and reinstating its interim dividend following a recovery in repairs, maintenance and improvement markets.

Travis Perkins, which recently sold plumbing assets and spun off its Wickes DIY chain, declared a dividend at 12p per share. It plans to pay a 35p special dividend with the plumbing sale proceeds.

Mining company Fresnillo firmed 0.3% to 825.49p, having reported higher first-half profit on the back of rising metal prices.

Fresnillo's profit jumped to $445.4 million, thanks to a 39% surge in revenue.

Industrial flow equipment specialist Rotork slumped 8.4% to 332.2p even as it reported an 8.4% rise in first-half profit, as orders improved in the water, power and chemicals sectors.

Rotork also announced that chief executive Kevin Hostetler would stand down to return home to the US with his young family next year. It reinstated its interim dividend at 2.35p per share.

Inter-dealer broker TP ICAP reversed 4.0% to 192.06p after its first-half revenue fell 5% as markets became quieter while economies emerged from the pandemic.

TP ICAP's revenue for the six months through June fell to £936 million, down from £990 million, though the fall was a more modest 1% on a constant currency basis. Story provided by StockMarketWire.com