* FTSE 100 up 0.2%, FTSE 250 flat
* Berkeley leads housebuilders higher
* Burberry, TUI trail main index
* Ted Baker slides
(Adds news items, analyst comments, updates share prices)
By Shashwat Awasthi
Jan 22 (Reuters) - London's FTSE 100 rebounded from its
worst day in two weeks on Wednesday, as housebuilders gained
after Berkeley increased planned shareholder returns and
promised to ramp up deliveries, and worries over the spread of a
new coronavirus in China eased.
The main index edged up 0.1%, with Berkeley
jumping 5% to a record high and an index of homebuilders
hitting its highest level since October 2017. The
FTSE 250 was flat by 0915 GMT.
Many global markets held firm as Chinese authorities ramped
up efforts to control the outbreak of the coronavirus, which is
being likened to the 2002-2003 spread of Severe Acute
Respiratory Syndrome (SARS) and has already led to nine deaths.
Sage Group rose 4.4% and also supported the main
bourse as the software provider reported higher quarterly
revenue and affirmed its annual forecast.
However, Burberry slid 3.3% to lag the blue-chips,
despite a solid performance through the Christmas quarter.
"The reminder of how closely the company's fortunes are tied
to China may have provoked some nervousness given the deadly
virus which is currently afflicting the country," AJ Bell
investment director Russ Mould said.
He also suggested that there could be a hint of
profit-taking, given the recent rally in shares.
Further restricting gains was a dip in Shell and BP
as oil prices fell, and miner Antofagasta which
dipped 2.4% after its copper production was hit by civil unrest
in Chile.
London-listed shares of German travel firm TUI
skidded 6.4% to its lowest since September 2019. The drop came
after Boeing warned of a further delay in winning
approval to return its 737 MAX jets to service.
Small-cap fashion retailer Ted Baker sank as much as
10% after it more than doubled its preliminary estimate of an
overstatement in inventory.
A combination of multiple profit warnings, subdued consumer
sentiment and a slew of management changes after allegations of
misconduct against founder Ray Kelvin had knocked more than 70%
off the stock's value last year.
(Reporting by Shashwat Awasthi in Bengaluru; Editing by
Shailesh Kuber, Bernard Orr)
Burberry (BRBY)
BP (BP.)
Berkeley Group (BKG)
Sage Group (SGE)
Antofagasta (ANTO)