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FTSE 100 Cuts Early Losses

U.K. shares recouped early losses to turn flat on Wednesday as the British pound pared gains after the release of weak GDP data.

The U.K. economy logged a flat growth in August as the increase in industrial production was offset by contraction in construction and farm sectors, a government report showed.

Gross domestic product remained unchanged after expanding 0.4 percent in July. Economists expected GDP to climb 0.2 percent.

Meanwhile, media reports suggest that a Brexit deal could come as early as Monday.

The benchmark FTSE 100 was down 9 points at 7,229 in late opening deals after closing 0.1 percent higher in the previous session.

HSBC Holdings gained 1 percent after the bank entered into a $765 million settlement in the U.S over its sale of mortgage-based securities during the run-up to the financial crisis.

British American Tobacco slid half a percent after announcing the appointment of Kingsley Wheaton as Chief Marketing Officer, effective January 1, 2019.

Brewery pub and hotel operator Marston's tumbled 2.5 percent. The company reported higher revenues in its fiscal 2018, and said it expects growth in underlying profit before tax, driven by strong trading during the World Cup and warm summer weather.

Recruitment firm PageGroup advanced 0.6 percent. The company expects full-year profit to come above market expectations.

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