(Sharecast News) - London stocks rose in early trade on Thursday as investors sifted through a raft of corporate news, but gains were unspectacular amid concerns about escalating tensions between the US and China.
At 0900 BST, the FTSE 100 was up 0.3% at 6,227.14.

Spreadex analyst Connor Campbell said: "It was a slow, if positive, start for the likes of the FTSE and the DAX, as investors warily eye the rising US-China tensions without going into panic mode.

"To be fair to the markets, they would've been forgiven if they had opened in the red. US-China tensions are heating up once again following the former's shutdown of the latter's consulate in Houston on accusations of spying. A fire at the grounds of the consulate prompted Trump to claim 'they were burning documents and burning papers', while Beijing has labelled the move an 'unprecedented escalation'.

"It's right out of the Trump playbook, a return to China-bashing as an election tactic to distract from his disastrous handling of domestic matters. The concern for investors is whether a) Beijing retaliates, and b) the President ups the ante as the November draws nearer.

"For now, however, the markets have taken the news relatively in their stride."

In equity markets, Unilever rallied after it reported a lower-than-expected fall in second-quarter sales as strong growth in North America helped to offset the impact of coronavirus lockdowns. The company said underlying sales fell 0.3% in the three months to June 30. Analysts had been expecting a 4.3% decrease.

Polymetal was also higher as it posted a 30% increase in second-quarter revenue on the back of higher gold prices and sales volumes.

Petropavlovsk surged as the Russian gold miner said total gold production remains on track to meet its full-year target of 620koz - 720koz, including third-party concentrate processing, after a 42% rise in second quarter output.

Insurer Beazley was in the black despite saying it swung to a loss in the first half due to coronavirus-related claims. In the six months to the end of June, it swung to a pre-tax loss of $13.8m from a profit of $166.4m in the first half of last year, pointing to "high volumes of claims arising from Covid-19 impacted lines".

Broker Shore Capital said it was a "resilient" set of earnings, with losses lower than estimates.

On the downside, SSE and Pennon were the worst performers on the FTSE 100 as their stock went ex-dividend.

Relx - formerly Reed Elsevier - was lower after it reported a 10% fall in interim revenue as the pandemic weighed on the company's exhibitions business.

IG Group was also weaker despite posting a 36% jump in full-year net trading revenue and a 52% increase in pre-tax profit.

Market Movers

FTSE 100 (UKX) 6,227.14 0.32%
FTSE 250 (MCX) 17,445.37 -0.12%
techMARK (TASX) 3,826.15 0.19%

FTSE 100 - Risers

Unilever (ULVR) 4,622.00p 6.74%
Fresnillo (FRES) 1,212.00p 3.46%
WPP (WPP) 625.80p 2.89%
Polymetal International (POLY) 1,754.00p 2.75%
Scottish Mortgage Inv Trust (SMT) 933.00p 2.30%
Diageo (DGE) 2,836.50p 2.03%
BAE Systems (BA.) 495.90p 2.02%
Glencore (GLEN) 182.02p 1.79%
Anglo American (AAL) 1,969.00p 1.52%
Sage Group (SGE) 717.40p 1.47%

FTSE 100 - Fallers

SSE (SSE) 1,351.00p -5.36%
Relx plc (REL) 1,693.50p -4.02%
Pennon Group (PNN) 1,060.00p -3.20%
GVC Holdings (GVC) 754.80p -1.72%
International Consolidated Airlines Group SA (CDI) (IAG) 211.30p -1.63%
British Land Company (BLND) 370.10p -1.44%
Standard Chartered (STAN) 438.90p -1.35%
St James's Place (STJ) 977.80p -1.25%
BT Group (BT.A) 112.70p -1.23%
Rolls-Royce Holdings (RR.) 278.20p -1.17%

FTSE 250 - Risers

Petropavlovsk (POG) 34.00p 8.63%
G4S (GFS) 143.05p 4.72%
Beazley (BEZ) 444.60p 3.16%
Tate & Lyle (TATE) 672.60p 3.06%
TI Fluid Systems (TIFS) 188.40p 3.06%
Hochschild Mining (HOC) 264.60p 2.80%
Clarkson (CKN) 2,100.00p 2.44%
Spirent Communications (SPT) 263.00p 2.33%
Convatec Group (CTEC) 208.20p 2.26%
Pets at Home Group (PETS) 238.20p 1.71%

FTSE 250 - Fallers

Countryside Properties (CSP) 332.40p -7.46%
IG Group Holdings (IGG) 789.50p -5.34%
Frasers Group (FRAS) 273.80p -2.91%
TBC Bank Group (TBCG) 745.00p -2.87%
Bank of Georgia Group (BGEO) 826.00p -2.82%
Network International Holdings (NETW) 477.40p -2.77%
PureTech Health (PRTC) 275.50p -2.48%
Vesuvius (VSVS) 380.40p -2.41%
Civitas Social Housing (CSH) 110.40p -2.30%
Shaftesbury (SHB) 488.40p -2.20%