StockMarketWire.com - UK stocks opened higher on Friday, shrugging inflation and energy crisis concerns, though weakness in Rio Tinto following underwhelming update weighed on upside momentum.

At 09:05, the benchmark FTSE 100 index was up 16 points, or 0.23%, at 7,223.79.

Mining giant Rio Tinto slipped 1.94% to £50.12 after lowering its guidance on iron ore shipments following delays to the completion of a new greenfield mine at its Pilbara mine in Australia, amid tight labour market and supply chain issues.

Pharmaceutical giant AstraZeneca was flat at £88.00 after reporting a late-stage trial of its dual immunotherapy regimen live cancer drug had met its primary goal.

Wealth management company Hargreaves Lansdown reported a 'good' start to its new fiscal year as assets under management increased thanks to new funds inflows.

Asset manager Jupiter Fund Management was up 2% to 244.40 pence as it reported a rise in assets under management as positive investment performance offset net outflows.

Ceramics component maker Morgan Advanced Materials added 1.5% to 342.00 pence after appointing Richard Armitage as chief financial officer starting 30 May 2022.

Private healthcare services group Mediclinic jumped 6.7% to 329.20 pence after reporting higher revenue and margins in the first half of the year, following a recovery in patient activity.

Mining company Hochschild Mining said it had exercised its option to start earning in to a 60% interest in the Snip gold located in the Golden Triangle and in Tahltan Territory, British Columbia, Canada, and held by Skeena Resources. Its shares fell 1% to 143.70 pence.

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