London Stocks Seen Opening Flat

0647 GMT - The FTSE 100 is expected to open down 0.3 points, according to IG, having closed on Friday at 7262.43, with equity-market sentiment subdued after China cut rates by less than expected. The one-year loan prime rate was lowered by 10 basis points to 3.45% while the five-year LPR was held at 4.2%, the People's Bank of China said. "Chinese banks' decision to keep the five-year rate steady is confusing for investors, in the middle of a property crisis," says Swissquote analyst Ipek Ozkardeskaya in a note. Rising U.S. bond yields and the possibility of U.S. interest rates rising further also weigh on sentiment. Focus this week will center on a speech by Federal Reserve Chair Jerome Powell on Friday. (jessica.fleetham@wsj.com)

COMPANIES NEWS:

Crest Nicholson Lowers Full-Year Profit View On Worsened Business Conditions

Crest Nicholson lowered its adjusted pretax profit full-year expectation on the back of continuing high inflation and rising interest rates.

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DP Eurasia Plans to File Bankruptcy for Russian Business

DP Eurasia has started the process to file bankruptcy for its Russian business, ending the planned sale process of DPRussia as a going concern and therefore the group's presence in Russia.

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TruFin Gets Private Equity Offer for Vertus Capital Stake Worth GBP3.2 Mln

TruFin has conditionally accepted an offer for its majority shareholding in Vertus Capital from a private equity party worth 3.2 million pounds ($4.1 million).

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Fulcrum Utility to Delist Shares From London's AIM After Widened Pretax Loss

Fulcrum Utility Services will seek to cancel its share listing on London's Alternative Investment Market in order to reduce costs after the group reported a widened pretax loss for fiscal 2023.

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FS Gaming Investments Cuts 888 Holdings Stake to 4.55% From 6.57%

888 Holdings said that FS Gaming Investments has cut its shareholding in the business to 4.55% from 6.57%.

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Thungela Resources Revises Operational Guidance After Profit, Revenue Drop

Thungela Resources narrowed its coal production guidance while changing its cost guidance for the full year after profit and revenue dropped in the first half.


Contact: London NewsPlus, Dow Jones Newswires;

(END) Dow Jones Newswires

08-21-23 0311ET