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Date: Thursday 21 Aug 2008

LONDON (ShareCast) - US stocks are expected to start with losses with sentiment weighed down by higher oil prices and continuing worries about the financial sector.

Crude prices have jumped $2.50 in electronic trading to $118.18 a barrel.

Late yesterday, a Citigroup analyst called Prashant Bhatia lowered his third-quarter estimates on investment banks Lehman Brothers, Goldman Sachs and Morgan Stanley.

Across the markets, the Dow Jones is expected to fall 62 points to 11,344 with the Nasdaq seen down 12 points to 1904. The S&P 500 is due to fall 7 points.

In other company news, HJ Heinz saw first-quarter profit rise 11% to $229m thanks to sales that rose 14% to $2.58m, while Burger King saw profits jump 42% in the fourth quarter, driven by strong sales.

On the economic front, the Labor Department's report on claims for unemployment benefits is due out.

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