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FTSE 100 Little Changed After Mondi's Profit Warning

U.K. shares were marginally lower on Wednesday as paper and packaging firm Mondi cut its full-year guidance and investors awaited the release of minutes of the September Federal Reserve policy meeting later today for clues on the rate outlook.

The pound retreated after Chancellor Philip Hammond said taxpayers' money will not be spent on preparing for a "no-deal" Brexit until the "very last moment".

The benchmark FTSE 100 was down 10 points or 0.14 percent at 7,527 in late opening deals after rising 0.4 percent in the previous session.

Mondi shares plunged 7 percent after the company said its annual results would be slightly lower than analysts' expectations.

Energy services firm Wood Group rose half a percent on winning a new multi-million dollar contract from Total SA.

Royal Dutch Shell was marginally higher on reports that it is seeking to sell its 17 percent stake in the Mukhaizna oil field in Oman.

Smith & Nephew rallied 3.5 percent after hedge fund run by billionaire Paul Singer reportedly built a stake in the medical device maker.

by RTTNews Staff Writer

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