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FTSE 100 Gains Ground On Brexit Deal Hopes

U.K. stocks were moving higher on Wednesday and the pound bounced back as the British government signaled that it intends to bring a revised Brexit deal back to Parliament.

According to a report in The Times, the EU is ready to make a major concession on a Brexit deal by providing a mechanism for the Northern Irish assembly to leave a new Irish backstop after a set number of years

The benchmark FTSE 100 was up 36 points, or 0.51 percent, at 7,179 after declining 0.8 percent the previous day.

Shares of Pressure Technologies soared 12 percent after the specialist engineering group announced a major contract win from EDF Energy.

Home improvement group Kingfisher advanced 0.6 percent after announcing appointment of Bernard Bot as Chief Financial Officer, effective 21 October 2019.

GVC Holdings rallied 3 percent. The global sports-betting and gaming group has raised its full-year core earnings forecast.

Vodafone, the world's second-largest mobile operator, gained 0.7 percent on news it will reduce its European store footprint by 15 percent.

GlaxoSmithKline rose 0.7 percent after announcing it would recall the popular heartburn medicine Zantac in all markets as a "precaution".

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