UK stocks opened stronger on Friday after US markets hits a record high amid expectations that the Fed could cut rates.
At 0835, the benchmark FTSE 100 index was up 20.07 points, or 0.3%, at 7.529.89.
Struggling travel company Thomas Cook slumped 36% after revelaing that it was in advanced discussions with largest shareholder Fosun and its core lending banks about a potential recapitalisation and break-up of the group.
The move, which would see Fosen take a majority stake in Thomas Cook's tour operator business and a minority stake in its airline, would result in existing shareholders being 'significantly diluted'.
Thomas Cook also warned that it would post a fall in second-half operating earnings.
Advertising company WPP added 0.5% on announcing that it had agreed to sell 60% of its data and analytics unit Kantar to Bain Capital in a deal that valued the business at around $4bn including debt.
Proceeds to WPP on completion after tax and continuing investment in Kantar were expected to be around $3.1bn (£2.5bn), of which around
Insurance company Hiscox fell 5.1% after it downgraded its profit guidance following a string of bad weather events, including a typhoon in Japan and a hurricane in Florida.
Fitness centre chain The Gym Group rose 5.6% after it said its revenue had jumped 27% in its first half.
Asset manager Ashmore reversed 2.7%, despite boosting its assets under management by 7.5% in the second quarter. Net inflows amounted to $3.3m, though though company experienced a small net outflow from its equities funds.
Rival fund manager Miton Group fell 2.4%, despite posting an 8% rise in first-half assets under management. The rise was due to market performance, which offset £82m of net outflows from the company's funds.
Aviation services group John Menzies shed 0.6% after announcing that chairman Dermot F Smurfit had stood down with immediate effect. He had been replaced by current non-executive director Philipp Joeinig.
Science Group added 1.0% as it increased its holding in takeover target Frontier Smart Technologies Group to 35.8%. Frontier shares fell 1.4%.
Cybersecurity company Sophos gained 2.2% on announcing that its revenue had grown by 3% in the first quarter, as growth in subscription sales offset a fall in hardware sales.