UPDATE 2-FTSE 100 flat as Vodafone loss offsets gains in banks; Oxford Biomedica shines

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* Oxford Biomedica rises on robust outlook

* Vodafone drops after missing earnings expectations

* FTSE 100 up 0.2%, FTSE 250 adds 0.6%
(Updates with market close)

By Shivani Kumaresan and Devik Jain

May 18 (Reuters) - London's FTSE 100 was little changed on
Tuesday as poor earnings by Vodafone offset gains in bank
stocks, while better-than-expected jobs data strengthened views
of a stronger economic recovery from a pandemic-driven crash
last year.

The blue-chip index rose 0.02%, with banks, mainly
HSBC Holdings, Lloyds Banking Group and
Standard Chartered gaining between 0.8% and 1.5%.

Consumer discretionary stocks, including Compass Group
, Kingfisher and Just Eat Takeaway.com
also provided the biggest boost to the index.

Mobile operator Vodafone Group fell 8.9% on
reporting a 1.2% drop in annual adjusted earnings, as COVID-19
hit roaming revenue and handset sales.

The domestically focussed mid-cap FTSE 250 index
climbed 0.5%.

Britain's unemployment rate fell again, to 4.8% between
January and March, and hiring rose further in April, according
to data that showed employers gearing up for the easing of
coronavirus curbs.

"A third consecutive month of falling unemployment suggests
the peak rate caused by the pandemic wasn't as high as feared",
said Sophie Griffiths, Market Analyst, UK & EMEA at OANDA.

"While the furlough scheme has succeeded in preventing a
wave of redundancies, there is little doubt the jobless rate
will rise again when it concludes in September."

Britain extended its huge job-protecting furlough programme
by five months until the end of September, covering about one in
five private-sector employees who receive 80% of their salary
for hours not worked.

The FTSE 100 has gained nearly 9.4% year-to-date as
investors flocked to energy, materials and banking stocks that
are seen benefiting the most from a stronger economic recovery
due to speedy COVID-19 vaccinations and government support.

Fund managers loaded up on UK stocks and cut exposure to
technology stocks as rising inflation and "taper tantrum" fears
leave growth stocks vulnerable to pull-backs, Bank of America's
May fund manager survey released on Tuesday found.

Among other stocks, Oxford Biomedica gained 10.4%,
to the top of the mid-cap index after it doubled the revenue
expectation from its COVID-19 vaccine supply deal with drugmaker
AstraZeneca.

Imperial Brands rose 1.5% after the tobacco company
reiterated its full-year outlook.
(Reporting by Shivani Kumaresan and Devik Jain in Bengaluru;
editing by Uttaresh.V and Jonathan Oatis)