Last checked at 
* FTSE 100 up 0.4%, FTSE 250 up 0.2%
* LSE among biggest gainers on main bourse
* BP advances after announcing CEO transition plans
(Adds company news items, quotes, updates share moves)
By Muvija M and Shashwat Awasthi
Oct 4 (Reuters) - London's FTSE 100 recovered slightly on
Friday, getting support from oil majors Shell and BP even as
the index heads for its worst week in 20 months over fears of an
economic slowdown and risk of recession.
Blue-chips were up 0.4% at 0755 GMT after four
straight sessions in the red that wiped off nearly 5% from the
index. The FTSE 250 midcap bourse climbed 0.2%.
LSE topped the FTSE 100 leader-board with a 2% rise
after a Reuters report that some of its investors had asked Hong
Kong Exchanges and Clearing to sweeten the takeover bid.
A parade of shockingly weak readings on services and
manufacturing sectors from multiple major economies has left
little doubt that the U.S.-China trade war has constricted
global growth.
The silver lining for investors was growing hopes that
central banks will step in with further stimulus. The Federal
Reserve - the world's biggest central bank - has already cut
interest rates twice this year.
Adding to anxiety at home, updates this week have not
dispelled no-deal Brexit worries, while a survey that showed an
unexpectedly sharp downturn in the dominant services sector last
month signalled the economy has slipped into a recession.
Yields on UK 10-year gilts were below those on 2-year bonds
for the second consecutive session. Inversion of the yield curve
is conventionally taken as a precursor to recession.
"There's precious little positivity around UK stocks -
Brexit uncertainty, profit warnings aplenty, CEO purges, weak UK
data and a slowing macro picture for the heavy weights exposed
to global growth adds up to a pretty disappointing near term
outlook for the FTSE," Markets.com analyst Neil Wilson said.
"That's far too pessimistic, one feels, but it could explain
why the selling has been so abrupt."
The FTSE index of 100 most valued UK companies, which was
nearly 150 points below its 200-day moving average by 0748 GMT,
has lagged other major markets this year, underlining the
additional turmoil Brexit has brought on.
In corporate news, BP became the latest blue-chip
company to name a new top boss as it said upstream business head
Bernard Looney would succeed CEO Bob Dudley, sending its shares
up 1%.
Tobacco giant Imperial Brands and retailer Tesco
also announced CEO departures this week.
Insurers were left reeling, slipping to their
lowest level since February, after Britain's markets watchdog
said it may have to ban or restrict some pricing practices in
the car and home insurance market.
(Reporting by Muvija M and Shashwat Awasthi in Bengaluru;
Editing by Bernard Orr)
