(ADVISORY – Follow European and UK inventory markets in actual time on the Reuters Live Markets weblog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)

* FTSE 100 down 0.1 p.c

* Reckitt Benckiser takeover information buoys inventory

* Aberdeen fund supervisor sinks on additional outflows

LONDON, Feb 2 Britain’s blue-chip FTSE 100 index was flat on Thursday, as a robust sterling offset positive factors by client merchandise group Reckitt Benckiser associated to a possible acquisition, in addition to sturdy power and mining sectors.

The index held regular as sterling reached a seven-week excessive after lawmakers final evening voted in favour of starting the Brexit course of. A powerful sterling weighs on the index heavy in foreign-earning firms.

Reckitt Benckiser was a prime gainer after saying it was in superior talks to purchase U.S. baby-food maker Mead Johnson. Its shares have been final up 2.5 p.c and have been by means of their 30-day common day by day quantity within the first 40 minutes of commerce.

“Reckitt Benckiser makes it a brace of companies whose share prices have defied traditional M&A reaction recently, rising on news of spending big to acquire,” Mike van Dulken, head of analysis at Accendo Markets, stated in a be aware.

Foodservice firm Compass Group gained 2.6 p.c after sustaining its full-year outlook.

Miners Randgold Resources and Fresnillo additionally supported the index, up 1.5 to 2.1 p.c respectively.

Shares in oil main Shell climbed 1.3 p.c regardless of income lacking expectations, as debt discount efforts and a wholesome dividend happy traders.

“Upstream made a profit two quarters in a row, which will give people encouragement, and cash flow was strong,” added Russ Mould, funding director at AJ Bell.

Worldpay Group was the worst-performing blue-chip inventory, down 3.eight p.c after stakeholder Ship Global 2 &CY S.C.A. bought 214 million shares within the on-line funds firm. The inventory was by means of 10 days’ value of common buying and selling quantity as markets digested the sale.

Pharmaceuticals large AstraZeneca was additionally a faller, down 1.5 p.c after it stated revenue and income would decline this yr as low cost generic variations of its ldl cholesterol drug hit gross sales.

Energy firms led the small-cap index greater, with oil exploration marketing consultant RPS Group up 9.eight p.c after it elevated its revenue outlook. Its shares have been headed for his or her greatest day by day positive factors since Feb. 2015.

Liberum analysts cited President Trump’s dedication to infrastructure spending, and reinitiation of the Keystone XL pipeline mission, as constructive for RPS, on which it has a ‘purchase’ score.

Aberdeen Asset Management was the worst-performing inventory within the mid-cap index, down 4.7 p.c after its first-quarter buying and selling replace confirmed outflows of 10.5 billion kilos, greater than anticipated.

This marks the 14th consecutive quarter of fairness outflows for the agency, UBS analysts stated. (Reporting by Helen Reid; Editing by Mark Potter)

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