UK's Inflation Persistence Lowers Chance of Early Rate Cuts

0833 GMT - The U.K.'s high level of inflation and the risk of this persisting in the medium term lowers the chances of early interest-rate cuts from the Bank of England, says Barclays fixed income strategist Moyeen Islam in a note. "Historically, the gap between the last hike and the first cut has been around six months," he says. "The BOE monetary policy committee is now focusing less on the terminal level of rates given that policy is now described as 'restrictive' and more on keeping the stance 'sufficiently restrictive for sufficiently long'," Islam says. (miriam.mukuru@wsj.com)

COMPANIES NEWS:

Clarkson's Pretax Profit, Revenue Rise on Strong Broking Segment Performance

Clarkson PLC said pretax profit rose for the first half, when revenue was boosted by a strong performance at the broking segment, and that the board's expectations for the year are unchanged.

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Christie Group Sees 2023 Performance Below Views

Christie Group expects its full-year performance to be materially below previous expectations due to delays in exchanging contracts and changes to the timing and outcome of some significant portfolio assignments.

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PageGroup Backs Guidance After Profit Fell

PageGroup backed its operating profit guidance for the year as it reported a fall in pretax profit for the first half with temporary recruitment outperforming permanent recruitment given the uncertain macroeconomic backdrop.

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Cordel Sees 2023 In Line With Views, With Revenue Growing

Cordel Group expects to report results 2023 in line with market expectations, with revenue seen growing by a almost a third on-year.

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LSL Property Services Profits to Be Below Views on Challenging Market Conditions

LSL Property Services said that profits in the second half and full year will be below the board's expectations as they were hurt by recent change in mortgage market conditions.

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Carr's Group CEO Peter Page to Step Down at AGM in January

Carr's Group said Chief Executive Officer Peter Page plans to step down at next year's annual general meeting and that it plans to start the search for his replacement.

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Deepverge Sells Subsidiary Glanaco for EUR1

Deepverge sold its Ireland-based subsidiary Glanaco to its current management and previous owners for 1 euro ($1.1) as part of its move to reduce costs.

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Fulcrum Metals Agrees to Buy Canadian Gold Project for C$800,000

Fulcrum Metals said on Monday that it has agreed to buy a 100% interest in Ontario's Tully gold project from 1911 Gold Corp. for 800,000 Canadian dollars ($598,287) in cash.

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Marlowe Regularly Reviews Business Units But No Decisions Made

Marlowe said that it regularly reviews its business units to maximize shareholder value but hasn't made any specific decision on any of them.

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Pan African Resources Meets Gold Production Guidance

Pan African Resources met its revised gold production guidance for fiscal 2023 and expects increased production at its Barberton underground mines as continuous operations and other improvements have helped production, it said Monday.

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Etalon Group Sales Rose On Regional Push

Etalon Group's first-half new contract sales rose on its expanded affordable housing offer in regional markets.

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Vanquis Banking CFO Neeraj Kapur Steps Down

Vanquis Banking Group's Neeraj Kapur stepped down as chief financial officer with immediate effect for personal reasons.


Contact: London NewsPlus, Dow Jones Newswires;

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08-07-23 0454ET