London stocks end near flat mark with eyes on geopolitical tensions, inflation data
FTSE 100 down 0.11%, FTSE 250 up 0.17%
Diploma falls on FY revenue miss
Mulberry Group posts wider first-half loss, shares fall
Updates to market close
Nov 19 (Reuters) - London stocks closed nearly flat on Tuesday after a choppy trading session, as investors avoided big bets ahead of a key inflation report and monitored tensionsbetween Russia and the U.S. over Ukraine.
The export-focussed FTSE 100 .FTSE closed 0.11% lower, while the midcap FTSE 250 index .FTMC pared early losses and ended higher by 0.17% aided by utilities stocks - a defensive sector. The midcaps index touched a three-month low during the session.
Globally, safe-haven assets such as gold XAU= and the U.S. dollar =USD traded higher after Russia updated its nuclear doctrine by lowering its threshold for a nuclear retaliation asUkraine said it usedlong-range U.S.-made missiles for the first time.
Personal goods index .FTNMX402040 led the declines with a 2.7% fall, mostly affected by Burberry BRBY.L that slid 4.7%.
Mulberry Group MUL.L fell 11% after the luxury group reported a wider first-half loss than a year earlier, and said it was taking steps to streamline its operations and improve margins under new CEO Andrea Baldo.
Imperial Brands IMB.L rose 3% after reporting forecast-beating operating profit and said it expected another strong performance next year. The stock was among the top gainers on the FTSE 100.
Brokerage Goldman Sachs cut its forecast for the FTSE 100 for the next one year to 8,500 points from 8,800, while UBS upgraded its outlook on UK equities to "overweight".
So far into the year, the FTSE 100 index has risen 4.7%,a nudge above the pan-European STOXX 600 index's .STOXX 4.5%rise.
Investors were squarely focussed on Wednesday'sinflation report after Bank of England Governor Andrew Bailey saidupcoming interest rate cuts should be more gradual following tax changes in the recent government budget, which retailers have flagged could feed price pressures.
A Reuters poll of economists suggest the BoE willkeep policy rates unchanged in December in light of renewed worries over global inflation.
Among others, Diploma's DPLM.L shares fell 7.2% to become the biggest loser on the blue chip index after the technical products and services provider missed annual revenue estimates.
In contrast, Vesuvius's VSVS.L shares rose 9.3% to the top of the midcap index after the steel and foundry specialist launched a new 50 million pound ($63.18 million) share buyback .
Reporting by Johann M Cherian and Nikhil Sharma in Bengaluru; Editing by Shinjini Ganguli and David Gregorio
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