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FTSE 100 steady, FTSE 250 up 0.3%

Aug 15 (Reuters) - Britain's FTSE 100 was flat on

Friday, despite momentarily scaling to an all-time intraday

high, as defence stocks weighed ahead of crucial U.S-Russia

talks regarding a potential resolution to the conflict in

Ukraine.

The blue-chip index was steady as of 1000 GMT, yet

appears poised to end the week with gains.

The week's advances were fueled by growing optimism

surrounding potential U.S. interest rate cuts,

better-than-expected UK Gross Domestic Product data and a series

of largely positive corporate earnings reports.

The aerospace and defence sector emerged as

Friday's underperformer, declining 1.8%, ahead of the scheduled

high-stakes meeting between U.S. President Donald Trump and

Russian President Vladimir Putin in Alaska later in the day.

Investors will be watching the summit closely for any signs

of a credible peace deal, with any substantive outcomes likely

setting the market tone for the coming week.

Energy sector, up 0.2%, was also in focus as

a potential ceasefire could result in the easing of sanctions on

Russian oil exports, potentially placing downward pressure on

global crude prices.

Supporting the gains on London's benchmark, industrial metal

miners strengthened 2%, as weak economic data

from key commodities consumer China fueled hopes that it would

spur Beijing to unleash more stimulus measures.

The midcap index gained 0.3% in the day, though it

remains on track to close the week with losses.

Bytes Technology was the top performer on the

index, rising 7.4% as the IT firm announced a 25 million pounds

($33.89 million) share repurchase program.

($1 = 0.7379 pounds)