The FTSE 100 is flat in early trading after gains for the far right in Swedish elections at the weekend and with simmering tensions over global trade in the background.
Department store Debenhams (DEB) falls 14.7% to 10.92p as weekend reports reveal it has brought administrators KMPG to consider a range of options including store closures and asking creditors to accept a compulsory voluntary arrangement.
Plastics company RPC Group (RPC) gains 21.2% to 828.3p to as it enters preliminary discussions about a possible sale of the company with each of Apollo Global Management and Bain Capital.
RPC says it is responding to media speculation that it is exploring a sale.
Apollo and Bain are required to make a firm offer for the company buy no later than 8 October 2018 under UK rules.
Conglomerate Associated British Foods (ABF) is the biggest faller on the FTSE 100, down 2.5% to £22.15 despite seeking to reassure the market that its full-year outlook remains unchanged as profits at retailer Primark are expected to more than offset the effect of low EU sugar prices arising from a supply glut.
Student accommodation investor Unite Group (UTG) is unchanged says it has exchanged contracts with Singapore Press Holdings for the sale of 14 properties, comprising 3,436 beds, for £180.5m.
Unite's share of the assets is worth £84.7m and the deal is expected to be completed later in September.
The purchase price reflects a net initial yield of 6.3% and is 'marginally' below book value. The portfolio is made up of a combination of wholly-owned properties in Plymouth, Huddersfield, Sheffield, Birmingham, Bristol and London.
