STOCK WATCH

■ CERES Power fell after saying most of the revenue from its business in China would not come until next year.

While the fuel cell developer expects its joint ventures in the country to be signed this year, they are unlikely to be approved until early 2023.

It means it will not get about half the £30m licence fee revenue from the ventures it was expecting in 2022. It now expects its full-year revenue to be lower than last year.

The shares fell 15.8pc, or 74.9p, to 400p.