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BUZZ-Plus500: Set for best day since Jan 2018 as buyback takes center stage

** Online trading platform Plus500 up 11.9% at 639.2p as of 0720 GMT

** Stock rose as much as 15.2% in morning trade, top percentage gainer on UK's midcap index and set for its best day since Jan 2018

** Co to buy back up to $50 mln of its shares and revise its distribution policy to return 60% of net profit to shareholders with at least 50% of that through dividends

** Co also said it was on track to meet current expectations for 2019, despite reporting a slump in H1 earnings

** "This company will take quite a while to recover a rating, but remains as operationally excellent as ever," says Liberum adding that co's "cost control was excellent"

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** Peel Hunt analysts raise TP to 600p from 526p

** "We would not dispute that if certain things go in Plus500's favour the business model can deliver high operating margins and significant amounts of cash, but at this stage, we expect Plus500 to remain an investment for those with a high risk appetite," Peel Hunt analysts say (Reporting by Jasmine I S in Bengaluru)