UPDATE 1-Britain's FTSE moves in tight range before Fed; Just Eat drops

Reuters

Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

    * FTSE 100 end flat
    * Just Eat leads fallers on competition worries
    * Glencore gains after Congo settlement

 (Adds closing prices)
    By Danilo Masoni
    MILAN, June 13 (Reuters) - The FTSE 100 ended flat on
Wednesday as a weaker pound supported export-oriented shares,
helping offset a fall in Just Eat on fresh competition worries
and weaker energy stocks.
    The index  .FTSE  fluctuated within a tight range as
investors waited for a string of central bank decisions this
week, starting with the U.S. Federal Reserve later in the day.
 urn:newsml:reuters.com:*:nL1N1TD1NR
    Just Eat  JE.L  fell 4.7 percent, leading fallers on the
FTSE, after Deliveroo stepped up competition against its rival,
saying it would allow restaurants to use their own riders for
orders placed through its app.  urn:newsml:reuters.com:*:nL8N1TE47J
    "It's a model used by Just Eat, and means Deliveroo’s army
of mopeds is potentially set to mount a significant challenge to
the FTSE 100 firm’s grip on the food delivery sector," said
Connor Campbell, analyst at Spreadex.
    Domino's Pizza  DOM.L  was also lower, down 2.7 percent.
    The energy sector had the biggest negative pull, taking 12
points off the FTSE.
    Oil majors Royal Dutch Shell  RDSa.L  and BP  BP.L  fell 1.1
and 0.9 percent respectively but ended off their day's low as
oil prices turned higher after U.S. government data showed a
bigger weekly draw than expected on domestic crude inventories.
 urn:newsml:reuters.com:*:nL4N1TF1P2
    Heavyweight miner Glencore  GLEN.L  rose 3.7 percent after
its Congo unit reach a settlement to dissolve a copper and
cobalt joint venture.  urn:newsml:reuters.com:*:nL1N1TE1YC
    Big international firms such as Diageo  DGE.L , BAT  BATS.L 
and Shire  SHP.L  rose between 0.6 and 1.1 percent, extending
gains as sterling fell to a one-week after data that failed to
bolster chances of an interest rate increase in August. 
    Rate-sensitive banks were also broadly lower with Royal Bank
of Scotland  RBS.L  and Lloyds  LLOY.L  down 1.4 and 0.5 percent
respectively.
    Elsewhere, Dixons Carphone  DC.L  shares fell 2.8 percent
after the company announced a data breach in which 1.2 million
records of non-financial personal information had been accessed.
     British small-cap Connect Group  CNCTC.L  fell 44 percent
after the logistics firm warned full-year profits and dividends
would be "materially" lower than expected, and CEO Mark Cashmore
stepped down.  urn:newsml:reuters.com:*:nL4N1TF2VJ 

 (Reporting by Danilo Masoni Editing by Andrew Heavens and
Elaine Hardcastle)
 ((Danilo.Masoni@TR.com; +39-02-66129734; Reuters Messaging:
danilo.masoni.thomsonreuters.com@reuters.net; On Twitter https://twitter.com/damasoni))
 
(( 
For related prices, Reuters users may click on - * 
 UK stock report      .L     
 FTSE index:          0#.FTS6  
 techMARK 100 index:  .FTT1X          FTSE futures:      0#FFI:  
 Gilt futures:        0#FLG:          Smallcap index:     .FTSC  
 FTSE 250 index:      .FTMC           FTSE 350 index:     .FTLC  
 Market digest:       .AD.L           Top 10 by vol:      .AV.L  
 Top price gainers:   .NG.L           Top % gainers:      .PG.L  
 Top price losers:    .NL.L           Top % losers:       .PL.L  
 
 
 * For related news, click on - *
 UK hot stocks:      [HOT and GB]     Wall Street:           .N 
 Gilts report:        GB/             Euro bond report  GVD/EUR 
 Pan European stock report:  .EU 
 Tokyo stocks:        .T              HK stocks:            .HK 
 Sterling report:     GBP/            Dollar report:       USD/ 
 
 
 * For company prices, click on - *
 Company directory:   UKEQ           By sector:           FTAX  
 
 
 * For pan-European market data, click on - *
 European Equities speed guide................  EUR/EQUITY  
 FTSE Eurotop 300 index...........................  .FTEU3  
 DJ STOXX index...................................  .STOXX  
 Top 10 STOXX sectors........................  .PGL.STOXXS  
 Top 10 EUROSTOXX sectors...................  .PGL.STOXXES  
 Top 10 Eurotop 300 sectors..................  .PGL.FTEU3S  
 Top 25 European pct gainers....................  .PG.PEUR  
 Top 25 European pct losers.....................  .PL.PEUR ))

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.