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FTSE 100 down 0.6%, FTSE 250 down 0.7%

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WPP ( WPP ) plunges after Q3 revenue miss and FY profit warning

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StanChart to hit return target early on robust wealth

growth

By Avinash P

Oct 30 (Reuters) - London-listed stocks fell on

Thursday, as investors paused after a recent rally and

scrutinized a number of corporate earnings reports from the

likes of advertisement group WPP ( WPP ), banking group Standard

Chartered ( SCBFF ) and energy giant Shell.

The blue-chip FTSE 100 was down 0.6% as of 1200 GMT,

and was set to snap eight consecutive sessions of gains, while

the domestically focused FTSE 250 was also down 0.7%.

The FTSE 100 rose to record highs this week, boosted by

upbeat results from majors HSBC ( HSBC ) and GSK.

Supporting the rally were also expectations for an imminent

interest rate cut by the U.S Federal Reserve.

The U.S. central bank lowered borrowing costs by an expected

25 basis points on Wednesday, but hinted that the rate cut might

be the last for this year.

"I genuinely believe that we do see some profit taking after

hitting all time high levels was (due to) the disappointment

that the Fed may not lower the interest rates when it meets next

month," said Ipek Ozkardeskaya, senior market analyst at

Swissquote Bank.

Earnings in the UK were picking up steam. WPP ( WPP ) sank

14% to a near two-decade low after new CEO Cindy Rose warned on

profit after a downturn at its flagship media buying agency

caused a bigger-than-expected drop in third-quarter net revenue.

The stock was the worst performer in the FTSE 100.

Automobile stocks also took a hit, falling

2.2% after Germany's Volkswagen booked 4.7 billion

euro charge due to Porsche's