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FTSE 100 flat, 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

(Updates after markets close)

By Avinash P

Oct 30 (Reuters) - London-listed stocks were subdued on

Thursday as investors paused after a recent rally and

scrutinised 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 flat, snapping eight

consecutive sessions of gains, while the domestically focused

FTSE 250 fell 0.77% - its biggest daily loss in two

weeks.

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

by upbeat results from majors HSBC ( HSBC ) and GSK,

while mid-caps had hit their highest in four. Also supporting

the rally were expectations of 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 are picking up steam. WPP ( WPP ) sank

16% 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%

after Germany's Volkswagen booked 4.7 billion euro

charge due to Porsche's