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Asia report: Markets finish higher despite US trade stance

Markets in Asia finished higher on Wednesday, even after comments from the Trump administration reiterating its current punitive position on global trade.

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Ofcom to clamp down on 'unacceptable' mobile contract prices

Mobile phone companies could be forced to place customers on cheaper tariffs at the end of their contracts as the telecoms regulator criticised the “unacceptable” practice of overcharging for handsets.

Nike scores a domestic touchdown in quarter ahead of Kaepernick campaign

Nike turned in a strong performance across the US in the first quarter of its trading year, with sales at home climbing 6% year-on-year.

Redhall shares tumble following profit warning

Redhall warned investors on Wednesday that full-year results would be "materially" below the engineer's previous guidance as a result of project delays and slower-than-expected efficiency gains.

FTSE 100 movers: Gold price dip takes shine off miners; Croda upgrade gives a glow

London's major shares were treading water on Wednesday ahead of the US Federal Reserve meeting where a rise in interest rates was widely anticipated.

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Pelatro locks in biggest contract to date, EBITDA soars

Pelatro saw profits and revenues improve in the first half of its trading year after the group won its biggest contract to date.

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Arix Bioscience business LogicBio files for US IPO

Healthcare and life science company Arix Bioscience announced on Wednesday that one of its group businesses, genome editing company LogicBio Therapeutics, has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering in the United States.

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Helios Underwriting acquires limited liability member of Lloyd's of London

Helios Underwriting has acquired Nomina No 505, a limited liability member of Lloyd's of London, for a total cash consideration of £318,359.

ImmuPharma still banking on Lupuzor even after failed trial

Specialist drug discovery and development company ImmuPharma announced its interim results for the six months ended 30 June on Wednesday - a period in which its revenue remained negligible at £0. 07m, but its drug candidate ‘Lupuzor’ demonstrated a superior response rate over placebo in its primary analysis on the full set of 202 patients.

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Wednesday broker round-up

IAG: UBS downgrades to neutral with a target price of 705p.

Kier showing 'multiple possible red flags', JPMorgan downgrades

Kier Group’s poor cash flow track record "somewhat reduces" JPMorgan Cazenove's confidence in medium-term guidance from the construction group, leading analysts to downgrade their stance on the shares.

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Cannacord Genuity hails McCarthy&Stone's focus on returns, product appeal

Analysts at Cannacord Genuity hiked their target price on shares of McCarthy&Stone, hailing the company's decision to shift its focus from growth to maximising returns and ongoing efforts to adjust its product offering.

OptiBiotix enters three-year distribution deal with Bulgarian partner

Life sciences business OptiBiotix Health has entered into a three-year distribution agreement with an unnamed Bulgarian company to exclusively distribute and commercialise its own-label ‘CholBiome’ products, containing its cholesterol and blood pressure reducing ‘LPLDL’ strain in Bulgaria, it announced on Wednesday.

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Net assets rise comfortably at Town Centre Securities

Property investment, development and car parking company Town Centre Securities announced its audited final results for the year ended 30 June on Wednesday, reporting a 6. 8% improvement in EPRA net assets per share to 384p.

James Halstead lays down record set of results

Commercial flooring company James Halstead reported record turnover and profits and a record dividend in its preliminary results for the year ended 30 June on Wednesday, with revenue rising 3. 6% to £249. 5m.

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Europe midday: Budget battles in focus across the Continent

The focus in Europe continues to be on the running budget battles across the Continent, with the spotlight on Wednesday squarely on Italy, as investors wait for the US central bank's policy announcement scheduled for later in the day.

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Mitie eyes flat profits as it sticks to long-term knitting

Outsourcing provider Mitie Group saw its shares drop on Wednesday after the company said it still expected first half operating profits to be “flat to slightly down”.

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Crawshaw wields the cleaver after losses grow

Fresh meat and food-to-go retailer Crawshaw Group saw its shares rise on Wednesday as it announced action to reinvigorate the chain after a “disappointing” first half amid tough high street conditions.

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Helical makes 'good progress' as focus switches to Bart's Square asset

Helical told investors on Wednesday that it had made good progress on its current development pipeline, completing the second and final phase at The Bower, before switching focus to its One Bartholomew project.

Grafenia makes amendment to terms of Image Everything acquisition

Grafenia has agreed on a variation to the terms of its acquisition of Image Everything in order to incentivise the target's vendors to remain with the group for a longer period.