UK stocks open 0.1% weaker

UK stocks opened moderately weaker on Monday, bucking positive offshore leads as the pound strengthened.

At 0857, the benchmark FTSE 100 index declined by 6.17 points, or 0.1%, to 7,718.05.

Infant products retailer Mothercare tumbled 28% after it warned on profits amid an ongoing slide in sales at its UK business.

Micro Focus International shed 9.6% after its acquisition of Hewlett Packard Enterprise's software unit failed to boost profits as much as the market had hoped.

Babcock International, meanwhile, said it would lead a consortium bid for a new £1.25bn UK light frigate programme. Its shares gained 0.9%.

Industrial LED lighting technology group added 3.3%, despite announcing that chief executive Michael Sutsko had stepped down amid a disappointing revenue performance.

Medical consultancy Craneware gained 3.3% after forecasting growth in first-half revenue and adjusted earning of between 15% and 18%.

TP ICAP said it had acquired SCS Commodities Corp, a US-based independent energy and commodities broker, for an undisclosed sum. Its shares fell 0.4%.

Forestry products company Obtala jumped 8.6% after it said it expected to post record levels of annual revenue.

Pawnbroker H&T Group rose 2.9% after it forecast full year pre-tax profits to be above current market expectations.