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FTSE 100 flat, FTSE 250 up 0.3%

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UK consumers gain confidence after Bank of England rate

cut, GfK

says

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StanChart shares rise after favourable ruling in U.S.

litigation

Aug 22 (Reuters) - Britain's FTSE 100 held steady on

Friday, taking a breather after closing at record highs, as

global investors turned their attention to Federal Reserve Chair

Jerome Powell's speech for insights into the future path of U.S.

interest rates.

As of 1042 GMT, the blue-chip index was little

changed and on pace to close the week up nearly 2%.

The FTSE 100 had scaled record closing levels in three

consecutive sessions, helped by a market rotation away from

technology stocks that triggered a selloff on Wall Street

earlier this week.

Meanwhile, the midcap index FTSE 250 rose 0.3% and

looked set to end the week with a modest 0.7% gain.

Global markets' attention now centres on the Jackson Hole

symposium, where investors hope Powell will signal a September

rate cut following recent U.S. labor market weakness.

Banking stocks in London led FTSE 100 gains,

rising 0.5%, with Standard Chartered ( SCBFF ) jumping 3%

following a favourable U.S. Department of Justice ruling in a

long-standing civil case.

The bank's shares tumbled last week when a U.S. Republican

lawmaker called for a probe, claiming that it was involved in

sanctions evasion.

The energy sector was up 0.3% as oil prices

stabilized amid fading hopes for a Russia-Ukraine peace

agreement.

A survey on Friday showed British consumers have turned a

bit more confident this month after the latest interest rate cut

by the Bank of England but are vulnerable to worries about

rising inflation and potential tax increases.

Retailer names like Tesco ( TSCDF ), J Sainsbury ( JSNSF ) and

Unilever ( UL ) marginally dropped. The consumer stocks index

also fell 0.3%. Despite this daily setback, consumer shares

have demonstrated strength this week, rising nearly 3%.