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UK stocks slipped Thursday, paced by a decline in in miners and Royal Dutch Shell as latter could be hit with an exit tax in the Netherlands ahead of its move to relocating its headquarters to the UK.
At 0858, the benchmark FTSE 100 index was down 1.53 points at 7.275,56, though downside was capped by positive earnings from corporates.
Postage company Royal Mail said it would return £400 million to shareholders after reporting a jump in profit in the first half of the year. Its shares price rose by 5.6% to 462.50 pence.
For the 26 weeks ended 26 September, pre-tax profit jumped to £315 million from £17 million year-on-year as revenue increased 7.1% to £6.07 billion.
Gaming software provider Playtech confirmed media reports that it had received a preliminary approach from JKO Play relating to a possible rival offer for the company amid interest from Gopher and Aristocrat. Its shares rose 2.75% to 761.39 pence.
Media reports suggest JKO Play is mulling £3 billion-plus counterbid for Playtech, intensifying the bidding war for the company amid interest from Gopher and Aristrocrat.
Waste management company Biffa resumed its dividend after narrowing its first-half losses profit as revenue was boosted by 'strong' performance in its collections and recycling business. Biffa's share price fell 4.2% to 378.57 pence.
Information-services provider Euromoney Institutional Investor rose 2% to £10.50 after reporting a rise in annual profit as cost cuts bolstered performance.