(For a Reuters live blog on U.S., UK and European stock
markets, click or type LIVE/ in a news window)
* FTSE 100 flat, FTSE 250 off 0.1%
Feb 7 (Reuters) – UK shares were subdued on Wednesday,
as gains in homebuilder stocks over increase in house prices
were offset by a sell-off in precious mining stocks, while
investors awaited Federal Reserve officials’ comments for
monetary policy cues.
The blue-chip FTSE 100 was flat by 08:25 GMT, while
the mid-cap FTSE 250 index slipped 0.1%.
Data showed British house prices reported the strongest
annual growth rate for a year in January, adding to tentative
signs of momentum in the housing market and lifting the
homebuilders index 0.7%.
Bottom performer precious metal miners shed
0.8% on lower gold prices, ahead of speeches by Federal Reserve
officials through the week.
Barratt Developments shares dropped 5.9%, after the
homebuilder agreed to buy Redrow for about 2.52 billion
pounds ($3.18 billion). Redrow shares climbed 13.6%.
Soap maker PZ Cussons forecast a lower annual profit
and slashed its interim dividend, sending its shares 14.4% lower
to the bottom of FTSE 250, while the broader personal care, drug
and grocery stores sub-index lost 0.6%.
(Reporting by Khushi Singh in Bengaluru; Editing by Rashmi
Aich)