London midday: Stocks remain flat as IMF downgrades UK growth forecasts on Brexit

London stocks were still hugging the flat line by midday on Wednesday as trading volumes thinned out ahead of the Christmas break, with a downgrade of UK growth forecasts from the International Monetary Fund doing little to lift the mood. The FTSE 100 was flat at 7,545.69, with volumes on the index down 30% versus the 100-day average, while the pound was flat against the euro at 1.1305 and up 0.1% versus the dollar at 1.3394. On the one hand, investors cheered progress on the US tax reform front ...

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