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* FTSE 100 up 0.04%, FTSE 250 rises 0.5%

* Balfour Beatty jumps 9.2% after raising annual operating

profit forecast

* Traders price in 46% chance of 25-basis-point Bank of

England hike in December

Aug 12 (Reuters) - London's FTSE 100 was largely flat on

Wednesday, as investors remained on the sidelines ahead of U.S.

inflation data, while midcap stocks outperformed as Balfour

Beatty soared to a record high after raising its annual

forecast.

The blue-chip FTSE 100 index edged up 0.04% to

10,848.75 points by 1014 GMT. The midcap FTSE 250

climbed 0.5% to 24,916.12 points, on track to close at a record

high.

* Global stocks also held steady ahead of U.S. inflation

data, which is expected to show consumer prices increased

moderately in July, potentially reducing financial market

expectations for the Federal Reserve to raise interest rates

this year. The data is due at 1230 GMT.

* A surprisingly weaker-than-expected U.S. jobs report last

week tempered expectations around rate hikes this year, although

simmering concerns about the Middle East war has left investors

in doubt.

* Brent crude futures dipped but held near $90 a

barrel after the U.S. and Yemen's Iran-aligned Houthis reported

separate attacks on shipping, as prospects for ending the Iran

war appeared to dim.

* Investors are also waiting for the UK's GDP data on

Thursday, which is expected to show economic growth stalled on a

month-over-month basis in June following a 0.1% growth in May.

* Britain's new Prime Minister Andy Burnham said in an

interview with the BBC that his government will do what it can

to help lower costs for business, though he acknowledged a

"difficult financial outlook". Traders are currently pricing in

a 46% chance of a 25-basis-point rate hike by the Bank of

England in December.

* Helping lift midcap stocks, Balfour Beatty jumped

9.2% after the British construction group raised its annual

operating profit forecast, citing strong demand for

infrastructure projects in the United States and UK.

* Mining giants Anglo American and Rio Tinto

gained more than 1% each as copper prices edged up after a

temporary shutdown at a major Indonesian smelter added to the

pressure on the global red metal's supply.