(Reuters) - The UK's midcap FTSE 250 index fell on Monday while the FTSE 100 was flat, after data showed British economic output failed to grow in the third quarter, adding to the signs of a slowdown.
British Stocks Remain Flat After Zero Growth in Q3
(Reuters) - The UK's midcap FTSE 250 index fell on Monday while the FTSE 100 was flat, after data showed British economic output failed to grow in the third quarter, adding to the signs of a slowdown.
The domestically focussed FTSE 250 was down 0.3% as of 0920 GMT, while the export-oriented FTSE 100 was down 0.04% after logging its worst week in more than a year on Friday.
The Office for National Statistics lowered its estimate for the change in gross domestic product output to 0.0% in the July-to-September period, down from a previous estimate of 0.1% growth.
It is the final key indicator for the year, while investors assessed the growth prospects for 2025.
Separately, a survey from Lloyds Bank showed confidence among businesses fell to its lowest level of 2024 in December.
The Bank of England last week kept its borrowing costs on hold, and estimated the economy will show zero growth in the fourth quarter.
Direct Line rose 2.8% after insurer Aviva agreed to buy its smaller rival in a 3.7 billion pound ($4.65 billion) cash-and-stock deal.
In contrast, Petrofac dropped 24.5% after the oilfield services provider said on Sunday it had entered into a binding agreement with key financial creditors on the terms of a comprehensive restructuring.
Among sectors, the media index led the sectoral losses and fell 0.7%.
(Reporting by Nikhil Sharma in Bengaluru; Editing by Krishna Chandra Eluri)
