UK stocks open higher, led by miners; Hays pleases, QinetiQ slumps


UK stocks opened higher on Thursday, led by mining companies as commodities prices continued to advance.

At 09:05, the benchmark FTSE 100 index was up 50.14 points, or 0.70%, at 7,191.30.

Anglo American was up 3.38%, Glencore was up 2.8%, Antofagasta was up 2%, and Rio Tinto was up 1.76%.

Pizza chain Dominos Pizza was flat at 386 pence despite reporting a rise in sales in the third quarter of the year, driven by a recovery in collection orders and ongoing strength in online orders.

Recruitment company Hays climbed 3.9% to 168.70 pence after reporting a rise in fiscal first quarter net fee income, driven by increase in demand for permanent placements.

Bus operator National Express inched up 1% to 231.40 pence after reporting that quarterly revenue rose in the third quarter of the year, and now was up to 83% on the same pre-pandemic period in 2019.

Gambling company Rank rose 2% to 162.60 pence after reporting a rise in revenue in its fiscal first quarter as customers returned to casino and bingo halls following the lifting of Covid-19 restrictions.

Homewares retailer Dunelm added 2% to £13.29 after reporting a rise in fiscal first-quarter sales as its summer sale promotion in July, boosted demand.

Emerging Markets asset manager Ashmore slipped 0.5% to 321.40 pence after reporting a decline in assets under management in its fiscal first quarter amid net outflows and negative investment performance.

Science and engineering company QinetiQ slipped 8.9% to 300 pence said half-year performance was in line with market consensus expectations as order intake improved, though flagged a potential £15 million hit to performance from supply chain issues.