* FTSE 100 up 0.3 pct, mid caps up 0.4 pct
* Sterling rises after PM May wins parliament Brexit vote
* Berkeley falls after warning on profit slump
* Ocado tops FTSE 100 on positive broker note(Updates prices,)
By Danilo Masoni and Helen Reid
MILAN/LONDON, June 20 (Reuters) - Britain's top share indexrose on Wednesday amid a broad-based rebound in Europe asimmediate worries over the impact of a trade spat between theUnited States and China eased, but housebuilder Berkeleyslumped after a profit warning.
The FTSE 100 climbed 0.3 percent following three straightsessions of losses, while the domestically focused FTSE 250gained 0.4 percent.
The FTSE opened 1 percent higher, but gains in sterling putpressure on it later in the day. The pound jumped after PrimeMinister Theresa May won a crucial Brexit vote in parliament.
Multinational consumer stocks led the rebound on the FTSE,having suffered the worst falls in the previous session.
Cigarette makers British American Tobacco andImperial Brands got a boost from broker Liberum, whichrecommended investors buy them in spite of increased regulatoryrisks.
Oil majors BP and Royal Dutch Shell were thebiggest drags, down 1.1 and 0.9 percent respectively, as oilmarkets stayed tense ahead of Friday's OPEC meeting.
Crude prices rose slightly, but remained under pressureahead of the meeting that may increase global production.
M&A continued to move the market. Sky shares rose3.1 percent after Walt Disney raised its bid forTwenty-First Century Fox assets to $71.3 billion,topping Comcast's offer.
The European pay-TV group, 39 pct owned by Fox, is alsobeing pursued by Comcast and its shares climbed asinvestors hoped Fox would increase its own offer since thecompany could afford to pay more due to the bidding war.
The biggest FTSE loser, Berkeley, fell 5.9 percentafter the London-focused housebuilder said pretax profits wouldfall 30 percent in 2018/19 following a better-than-expected"peak" performance in 2017/18.
"We remain impressed by the resilience of Berkeley's profitsin spite of a slower London market. However, we do take theguidance of fading returns seriously and therefore see theshares close to fair value," Liberum analyst Charlie Campbellsaid.
Ocado, meanwhile, topped the index, up 5.6 percentthanks to a price target upgrade from Peel Hunt which said theonline grocer had the potential to become a "standard" platformfor retail logistics across all sectors.(Reporting by Danilo Masoni and Helen Reid; Editing by AndrewHeavens and Mark Potter)