FTSE 100 up 0.1, FTSE 250 up 0.7
Renewi jumps on 887 million takeover bid by Australia39;s Macquarie
Energean tops FTSE midcap losses on production forecast cut
UK budget shows govt doesn39;t understand business retail veteran

Nov 28 Reuters UK39;s domesticallyfocused midcap FTSE 250 hit an over twoweek high on Thursday, while the main FTSE stock index inched up in light trading volumes, with Direct Line boosting the insurance sector after rejecting Aviva39;s 4.16 billion takeover bid.

The FTSE 100 was up 0.1 as of 1058 GMT, while the FTSE 250 climbed 0.7. The Thanksgiving holiday in the U.S. is expected to keep trading volumes light throughout the day.

Insurance stocks jumped 6.2, on track for their biggest oneday gain in four years, with Direct Line Insurance jumping 42 after rejecting Aviva39;s AV.L bid, saying it substantially undervalued the company. Aviva39;s shares fell 3.

SpiraxSarco Engineering rose 3 on positive rating actions by two brokerages on the valvemaker39;s stocks, while Sainsbury rose 2.7 after J.P.Morgan upgraded the supermarket39;s shares to overweight from underweight.

Among major movers, Renewi soared 45 after asset manager Macquarie39;s preliminary takeover deal of the waste management firm for 700.9 million pounds 887.8 million.

Dr Martens climbed 13, with a brokerage attributing the gain to the bootmaker39;s betterthanexpected firsthalf results.

On the flip side, Energean dropped 6 to the bottom of the FTMC index after the gas…