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* FTSE 100 up 0.1%, FTSE 250 down 0.4%
* Intu falls to bottom of smallcap index
* Mothercare has best day in almost two decades
(Adds company news items, updates to closing prices)
By Muvija M and Shashwat Awasthi
Nov 6 (Reuters) - London's FTSE 100 edged up on Wednesday,
adding to a 2% gain over the past three sessions, as investors
waited for news on U.S.-China trade talks before making further
bets, while mall operator Intu dropped on signs it may seek to
sell more shares.
The FTSE 100, which had been holding at a near
one-month high this week, rose 0.1%, while the FTSE 250
dipped 0.4% as the pound weakened slightly ahead of a Bank of
England's interest rate decision on Thursday.
The drop in the currency, however, boosted exporters British
American Tobacco, Unilever and Diageo,
which were the best performers on the main bourse.
A standout loser in the wider London market was smallcap
Intu Properties, which slumped 17.1% after saying it
may need to raise additional cash.
That came along with a warning that letting activity slowed
in the third quarter as some customers delayed decisions due to
Brexit uncertainty. The company also forecast a drop in annual
rental income.
The comments knocked 1%-2.5% off shares in bigger rivals
Land Securities, British Land and Hammerson
.
Global markets were held back by downbeat U.S. productivity
data and a lack of major updates on U.S.-China trade talks after
recent optimism that the world's two largest economies could
sort out their dispute as soon as this month.
The FTSE 100, whose constituents book more than two-thirds
of their earnings abroad, had in August suffered its steepest
monthly fall this year when trade tensions peaked.
"A vast amount of optimism built into financial markets over
the past two weeks," OANDA analyst Jeffrey Halley said. "There
are plenty of banana skins that could slip up the story."
Mothercare shares leapt 33% on their best day in
nearly two decades. The baby products retailer shut all its UK
stores and laid out plans to return the rest of the company to
profitability by fiscal 2021.
"There were worries that they (Mothercare) are going to go
bust, they are obviously not bust," a trader said.
Wednesday's rally helped Mothercare claw back all the losses
that followed its notice of intent to appoint administrators for
its UK operations on Monday.
In the same sector, Marks & Spencer ended marginally
lower after jumping nearly 8% earlier in the session. It
reported a plunge in first-half earnings, but like-for-like
sales growth in its food business.
(Reporting by Muvija M, Shashwat Awasthi and Indranil Sarkar in
Bengaluru; Editing by Saumyadeb Chakrabarty and Mark Potter)
