London stocks flat ahead of key data releases; miners weigh
Oct 13 (Reuters) - London's main stock indexes were little changed on Tuesday, with losses in industrials and mining offsetting gains in energy, as investors looked ahead to key economic data releases later in the week.
The blue-chip FTSE 100 index .FTSE closed 0.06% lower at 10,650.33 points, giving up early session gains, while the midcap FTSE 250 .FTMC edged 0.05% higher.
Precious metal miners .FTNMX551030 slipped 1.4%, weighed down by softer gold and silver prices ahead of US inflation data on Wednesday
Industrial metal miners .FTNMX551020 also fell 1.7%, with copper miner Antofagasta ANTO.L down 5.6%, the most on FTSE 100
Shares of London Stock Exchange LSEG.L slipped 4.7% after confirming talks with private equity firm Permira for the purchase of financial data provider Octus for about $3.5 billion
Advertising firm WPP WPP.L rose 4.2% after French rival Publicis PUBP.PA reaffirmed its full-year outlook
The International Monetary Fund said that Britain needs to keep deficit reduction on track
"(Finance minister) John Healey will opt for a compromise Budget on Wednesday 28th October, with limited implications for the economy and the markets," said Ruth Gregory, deputy chief UK economist, Capital Economics, in a note
Healey will not raise capital gains tax to the same level as income tax, the FT reported on Tuesday, citing four sources
British Petroleum's BP.L shares rose 3.7% to its highest since March after the energy giant estimated its third-quarter refining margins tripled from last year
Betting company Entain ENT.L rose 4.7% after BetMGM, its US joint venture with MGM Resorts, reported 7% higher third-quarter revenue
Melrose Industries MRON.L advanced 3.5%, after the GKN Aerospace owner said its Garden Grove plant in California was on track to resume operations by the fourth quarter
Investors also await UK's August GDP data on Wednesday