U.K. shares were little changed in cautious trade on Friday after American tariffs on 34 billion dollars worth of Chinese imports took effect and China vowed to make a necessary counterattack in equal measure.

The benchmark FTSE 100 was marginally higher at 7,609 in late opening deals after closing 0.4 percent higher in the previous session.

Rolls Royce Holdings dropped half a percent after it agreed to sell its commercial marine .

Satellite company Inmarsat slumped 8 percent after rejecting a second takeover bid from EchoStar.

On the data front, U.K. house prices increased at a slower pace in June, data from the Lloyds bank subsidiary Halifax and IHS Markit showed.

House prices grew only 0.3 percent on month in June, following May's 1.7 percent increase. Prices were expected to gain 0.2 percent.

by P2PNews Staff Writer

editorial@p2pnews.com

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