MS jumps on HY beat, retailers top gainers
Powell to speak at 1415 GMT
UK job market sluggish in October survey
FTSE 100, FTSE 250 flat

Nov 8 Reuters UK stocks were flat on Wednesday as gains in Marks Spencer were offset by losses in life insurers, while investors await comments from Bank of England Governor Andrew Bailey and Federal Reserve Chair Jerome Powell on the path for interest rates.

Both the benchmark FTSE 100 and the midcap FTSE 250 index were trading flat at 0918 GMT.

Marks Spencer jumped 10 after it reported a betterthanexpected 75 rise in firsthalf profit but cautioned that high borrowing costs and erratic weather may soon weigh on shoppers.

The results lifted retailers by 1.8 to the top of the charts.

Separately, a report from Adobe Analytics said UK39;s online sales in the Christmas trading season are expected to rise 2.7 from a year earlier despite ongoing cost of living pressures.

The life insurance sector, however, dropped 1.6, set to log its worst day in three weeks.

Shares in RS Group slid 1.6 to touch their lowest level since May 2020 after the electronics products distributor posted a 25 fall in halfyear adjusted pretax profit.

ITV fell 6.2, set for its biggest oneday drop in 10 months, as the broadcaster said lower demand from freetoair broadcasters for its content would impact its studios business in the fourth quarter.

Investors will closely monitor comments from Bailey later in the day at an Irish central bank conference as well…