Election hopes support UK mid-caps, financials buoy FTSE

  • Reuters
  • Stock Market News
Election hopes support UK mid-caps, financials buoy FTSE
Credit: © Reuters.

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* FTSE 100 about flat, FTSE 250 up 0.3%

* Pound gains on election hopes

* IQE tanks after results warning

* Buyout offer spurs Consort Medical

Nov 18 (Reuters) - British blue-chips held steady on Monday as financial stocks supported the index after its worst weekly performance in four, while mid-caps continued to benefit from polls ahead of a snap election in the country.

The FTSE 100 .FTSE was little changed by 0805 GMT. The FTSE 250 .FTMC outshone, rising 0.3% thanks to gains in the local currency on hopes that Conservatives will win the December election and deliver Brexit.

Stand out movers included IQE IQE.L which plunged 20% after the tech firm warned on results amid issues with two of its main customers, while Consort Medical CSRT.L sky-rocketed 44% and past the 10.1 pound a share bid from Sweden's Recipharm RECIb.ST .

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