StockMarketWire.com - UK stocks slipped in early-trade from 20-months highs Thursday, paced by a decline in oil majors following Shell's weaker-than-expected Q3 results.

At 09:51, the benchmark FTSE 100 index was down 0.27%, or 19 points, at 7,233.94.

Royal Dutch Shell reported third-quarter profit that fell short of expectations despite a boost from higher oil and gas prices. Its shares fell 3.3% to £17.09.

For the third quarter, adjusted earnings swelled to $4.13 billion from $955 million year-on-year. Analysts had expected third-quarter adjusted earnings to come in at about $6 billion.

Meggitt was flat at 721.20 pence after the defence company Meggitt warned on profit owing to supply chain disruptions and softer backdrop in the defence industry.

High street bank Lloyds Banking edged 1.15% to 49.5 pence after raising its outlook on performance after reporting a jump in third-quarter profit following a rise in net income.

Marketing giant WPP jumped to £10.20 after lifting its full-year outlook following higher third-quarter revenue as demand for marketing continued to increase, particularly in digital media and ecommerce services.

Packaging company DS Smith climbed 2.7% to 389.80 pence after reporting first-half performance remained in line with its expectations as 'very positive' box volume growth, and price hikes more than offset rising input costs.

Automotive distributor Inchape gained 2.98% to trade at 829.50 pence jumped after upgrading its outlook on annual profit following stronger-than-expected third-quarter results as higher margins offset a weaker sales amid a supply shortage.

Chemicals company Synthomer rose 2.2% 486.60 pence after it agreed to acquire the Adhesive Resins business of Eastman Chemical Company for $1 billion.













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