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Today’s market overview

The US Federal signalled that it is on-track to start reducing its bond buying programme by the end of this year, while composite PMI data from the euro zone pointed to an expansionary phase.

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Minerals processor MDM Engineering (MDM) said that AngloGold Ashanti has awarded the contract for the completion and commissioning of the MWS uranium plant in Stilfontein, South Africa, to MDM.

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Plethora Solutions (PLE) has agreed a deal allowing it to take control of the global development and marketing of PSD502, a treatment for premature ejaculation. The deal opens up new marketing opportunities for Plethora, particularly in the US. Plethora plans to submit a New Drug Application to the US Food and Drug administration before the end of next year.

Shareholders of Carmarthen and Pumsaint Farmers Ltd have approved a special resolution to convert into a private limited company and approve the proposed £7.2m acquisition by Wynnstay Group (WYN).

High street retailer WH Smith (SMWH) said it would meet full year forecasts due to its successful strategy of improve profit margins and cost savings.

Kirkland Lake Gold (KGI) said it produced 30,316 ounces of gold in the first quarter of its new financial year, which was broadly in line with the receding quarter. It sold 30,253 ounces at an average price of $1,426 an ounce, but gave no indication as to costs.

Engineering group IMI (IMI) said that it has acquired Analytical Flow Products (AFP) for an initial consideration of £5m with a potential deferred consideration of up to £36m based on performance over the next 5 years. AFP offers a range of products for the precise control of fluids in chromatography as well as for the testing of the purity of gases in refineries.a

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Britain’s biggest banks face a compensation bill for up to £1.5bn to pay for six years of missold credit card and identity theft insurance.

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