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Wednesday broker round-up
Ferrexpo: JP Morgan upgrades to overweight with a target price of 190p.
Focus on strategy sees Restore through third quarter
Document management and business relocation services provider Restore updated the market on its trading for the nine months ended 30 September on Wednesday, reporting that it had continued to deliver on its strategy to create shareholder value through a combination of organic growth, selective acquisitions and further margin expansion.
Iofina invests in Colorado hemp firm Organic Vines
Iodine and specialty chemical products manufacturer Iofina announced an investment into Organic Vines OP - a feminised hemp seed production and genetics company - on Wednesday.
Permanent TSB makes decent progress through third quarter
Permanent TSB Group updated the market on its trading for the nine months ended 30 September on Wednesday, reporting that its business and financial performance had continued to trend in line with market expectations, as it maintained profitability, retained capital above regulatory requirements, reduced non-performing loans, and increased new lending.
LightwaveRF takes out £0.35m loan ahead of Black Friday
Smart home technology company LightwaveRF has entered into an agreement to draw down a £0. 35m loan from Finstock Capital, it announced on Wednesday, secured against, and repayable from, research and development tax credits receivable.
Asia report: Markets mixed as trade optimism wanes
Markets in Asia finished in a mixed state on Wednesday, with investors keeping their wallets closed as they awaited further developments on the US-China trade front.
Tyman profit and revenue seen in line despite 'challenging' markets
Tyman said on Wednesday that full-year profit and revenue are set to be ahead of the previous year and in line with current market expectations despite "challenging" conditions as it benefits from recent acquisitions and the weaker pound versus the dollar.
Mothercare to shut all UK stores as it refocuses on international business
Shares in Mothercare kicked upwards on Wednesday after the stricken retailer announced a series of restructuring measures.
BT slumps as Virgin Media switches mobile network to Vodafone
BT was under the cosh on Wednesday as Virgin Media said it had agreed a five-year deal to switch its more than 3 million mobile customers to the Vodafone network once its agreement with BT runs out.
Europe midday: Markets edge higher after eurozone data beats forecasts
European stocks were marginally higher at lunchtime on Wednesday as eurozone data beat expectations but pointed to a tricky fourth quarter, while shares of ISS plunged as the company reined in analysts' expectations for its margins.
ShoreCap stays at 'buy' on Tesco, expresses confidence in management
ShoreCap sounded a confident note on the implications of the impending changes in Tesco's top ranks for the company's share price, reiterating their recommendation to 'buy' in the process.
London midday: Stocks little changed as investors pause for breath
London equity markets were little changed by midday on Wednesday as investors paused for breath following recent gains, with property stocks under pressure after a downbeat update from Intu Properties.
Ofcom appoints Jonathan Oxley as new chief executive
Ofcom has appointed Jonathan Oxley as the new chief executive of the media watchdog on an interim basis .
Frontier IP profit doubles amid soaring revenues
Frontier IP on Wednesday reported that its annual profits more than doubled after a rise in the fair value of its investments led to a leap in revenue.
SoftBank plunges into the red following WeWork investment
SoftBank revealed the damage caused by its investment in troubled start-up WeWork on Wednesday, posting a quarterly loss of £5. 0bn, its first for 14 years.
Jupiter Fund Management appoints industry veteran Nichola Pease as chair
Jupiter Fund Management has appointed the former chief executive of JO Hambro Capital Management, Nichola Pease, as its non-executive chair with effect from 2 March 2020.
RBC reiterates 'underperform' on Imperial Brands, expects dividend cut
Analysts at RBC reiterated their 'underperform' recommendation for shares of Imperial Brands, telling clients that the company still had more to do to clean up its accounting and that they were expecting the dividend to be cut during the current financial year.
Weak clothing sales hit M&S interims as profits slump 17%
Weaker clothing and homeware sales saw interim revenue at retailer Marks & Spencer fall 2% as the company posted a 17% decline in pre-tax profits in "challenging" conditions.
Morgan Sindall sees FY results 'slightly above' previous expectations
Morgan Sindall said on Wednesday that its full-year performance was set to be "slightly above" its previous expectations amid continued strong trading.
China and France sign contracts worth $15bn during Macron's visit
China and France signed contracts totaling $15. 0bn during a visit by President Emmanuel Macron, Reuters reported on Wednesday.