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UK stocks open 0.3% lower after Turkish lira route
StockMarketWire.com
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UK stocks opened lower on Monday after a plunge in the Turkish lira unsettled currency markets.
At 0820, the benchmark FTSE 100 index was down 21.22 points, or 0.3%, at 6,687.49.
The lira tumbled as much as 14% against the US dollar after president Tayyip Erdogan sacked the country's central bank governor.
In corporate news, pharmaceutical group AstraZeneca firmed 1.1% to £71.90 after a clinical trial in the US showed its Covid-19 vaccine was 79% effective at preventing symptomatic illness.
The trial also found the vaccine was 100% effective at preventing severe disease and hospitalisation.
Home improvement retailer Kingfisher climbed 1.7% to 318.06p, having resumed its dividend after reporting a large rise in annual profit underpinned by 7.1% sales growth and cost cutting.
Kingfisher declared a dividend of 8.25p per share for the year, up from 3.33p year-on-year.
Gold miner Centamin gained 2.0% to 106.93p as it reported a jump in profit, after lower output was more than offset by a surge in prices for the precious metal.
Luxury car retailer Cambria Automobiles revved 12% higher to 74p on news that it was mulling a possible management buyout, at 80p per share.
Student accommodation provider Unite shed 1.2% to £10.08 after it received planning approval for a 700-bed development at Derby Road in Nottingham, estimated to cost £57 million to develop.
Video advertising group Tremor International rallied 11% to 674p on guiding for an annual profit for calendar 2021 'significantly ahead' of previous expectations.
Ship owner Tufton Oceanic Assets rose 0.8% to 98c, having posted a large rise in first-half profit, underpinned by fixed-based charter revenue and higher containership valuations.
Story provided by StockMarketWire.com
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