Last checked at 
* FTSE 100 down 0.4%, FTSE 250 down 0.3%
* BP weighs on main bourse after Q3 results
* Hunting slides after profit warning
(Adds company news items, updates share moves)
By Muvija M
Oct 29 (Reuters) - London's stock markets weakened on
Tuesday as the prospect of a Brexit 'flextension' and parliament
rejecting Prime Minister Boris Johnson's demand for an election
before Christmas kept investors guessing and wary of taking more
risk.
The FTSE 100 was 0.4% lower by 0849 GMT, pulling
back from a near one-month high in the previous session. The
mid-cap FTSE 250 was down 0.3%.
Oil major BP weighed the most on the main bourse,
dropping 1.1% after posting a sharp drop in third-quarter profit
on the back of weaker oil prices and lower production.
At home, the European Union agreed to a Brexit delay of up
to three months on Monday, but a lot remains unclear as
lawmakers argue over how, when or even if the UK should leave
the bloc.
Aggravating matters, Johnson has said he would try again to
force a general election.
Investors are also on tenterhooks for the U.S. Federal
Reserve meeting to conclude this week, in which the central bank
is expected to cut interest rates for the third time this year
to boost a slowing economy amid an ongoing trade war with China.
"We expect a pickup in global growth in the next six to 12
months, yet see limits to how much monetary easing can be
delivered in the near term," BlackRock analysts said.
"Monetary policy is no cure for the weaker growth and firmer
inflation pressures that may result from sustained trade
tensions."
Financial companies, whose margins would be under pressure
in a low interest rate scenario, were the biggest sector-wise
drags on the FTSE 100 by 0847 GMT.
The sub-index tumbled 1% to its lowest level in
two weeks.
Mid-cap constituent Hunting fell 4% as the oilfield
services company issued a warning on profits as it struggles
with a slowdown in the U.S. onshore drilling market.
Royal Mail skidded 5.3% - its steepest one-day drop
in three months - after JP Morgan cut its rating on the stock to
'underweight' from 'neutral'.
Online trading platform Plus500 jumped 6.3% after
reporting a rise in customer additions and revenue for the third
quarter as macro events drove strong trading.
The wider sentiment also turned sour after news that the
United States Trade Representative was studying whether to
extend tariff suspensions on $34 billion of Chinese goods set to
expire on Dec. 28.
That, coming after U.S. President Donald Trump said he
expected to sign a significant part of a trade deal with China
ahead of schedule, sent mixed signals to markets.
(Reporting by Muvija M, Shashwat Awasthi and Safia Infant in
Bengaluru; editing by Patrick Graham and Andrew Heavens)
