Londons FTSE 100 was flat on Thursday as weakness in mining and energy stocks countered gains in defensive sectors such as consumer staples and utilities, while Cineworld dropped after reporting an annual loss.

The bluechip FTSE 100 index was unchanged, with miners including Rio Tinto, Anglo American and BHP being the biggest drags.

Consumer staples including Unilever Plc and Diageo Plc were the biggest boost to the index.

There is an air of caution for stocks, not only in UK but across Europe as well, because today is the EU summit. It will discuss, among other things, whether to ban exports of vaccines, which should have a significant impact on the UK vaccine rollout, said Connor Campbell, an analyst at Spreadex.

Also, in the longer term, this kind of an event could further set the tone of UKs relationship with the EU postBrexit. So, theres more at stake than just vaccine exports essentially.

The FTSE 100 and the midcap FTSE 250 indexes have recovered more than 36 and 72, respectively, from a coronavirusdriven crash last year as investors bet on a vaccineled economic rebound. But a recent rise in coronavirus cases has dampened sentiment.

Bank of England Chief Economist Andy Haldane said he remained confident that Britains economy was poised for a quick bounceback as the country races ahead with its coronavirus vaccinations and restrictions are lifted.

The domestically focused midcap FTSE 250 fell 0.2, weighed down by consumer discretionary stocks.

Cineworld…