London pre-open: Stocks seen flat following record close
By Michele Maatouk
Date: Thursday 21 Aug 2025
(Sharecast News) - London stocks were set for a flat open on Thursday following a record close the day earlier, as investors mulled the latest borrowing figures.
The FTSE 100 was called to open steady at 9,288.
Data out earlier from the Office for National Statistics showed that government borrowing was lower than expected in July.
Borrowing came in at £1.1bn, down £2.3bn on July 2024 and marking the lowest figure for three years following tax rises in April. Analysts were expecting £2.6bn.
Since April, public sector borrowing rose £6.7bn to £60bn.
In corporate news, WH Smith cut its US profit forecast after uncovering an overstatement of around £30m of expected trading profit in North America.
The group now expects now expects headline trading profit from the North America division for the financial year ending 31 August 2025 to be about £25m, down from previous market expectations of approximately £55m.
Full-year headline profit before tax and non-underlying items will be in the region of £110m, it said.
Premier Foods said it had bought convenient meals brand Merchant Gourmet for an enterprise value of £48m on a cash and debt free basis.
Merchant, which makes healthy ready-to-eat pulses and grains, microwaveable rice and meals in minutes, is expected to generate revenue of £28m in the year to March 2026, Premier said.
Engineering firm Renishaw said that group finance director Allen Roberts will step down from the board following the company's annual general meeting on 26 November after 46 years with the company.
Renishaw also said it expects full-year revenues to be around the middle of the £700m to £720m range, while adjusted pre-tax profits were seen towards the top of its £109m to £127m guidance range.
United Utilities announced a £3bn deal to refurbish the Haweswater aqueduct, which carries water from Cumbria to 2.5m customers across Greater Manchester and Lancashire.
The upgrade, which includes replacing six tunnel sections, will be delivered by consortium Cascade Infrastructure and begin in 2026.
"Today marks a significant step to ensure we have the right infrastructure to provide a resilient water supply to communities right across the region for decades to come," said United Utilities boss Louise Beardmore.
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