By Helen Reid
LONDON (Reuters) - Britain's major stock index faltered on Friday, propped up by Shire and oil stocks, while investors awaited a speech by the U.S. Fed Chair and digested U.S.-China trade talks which delivered no breakthrough.
The FTSE was on track to eke out a 0.1 percent gain in a week the British government set out plans for a possible no-deal Brexit and as sterling hovered near 11-month lows against the euro.
It hovered between flat and up 0.1 percent by 0830 GMT, with Shire and Antofagasta the top gainers.
Trade war was still front and centre of investors' minds after inconclusive talks between U.S. and Chinese officials, and focus turned to a speech by Federal Reserve Chairman Jerome Powell at Jackson Hole at 1400 GMT.
Oil majors Royal Dutch Shell
The approval was largely expected, according to UBS, but a relief for the market which perceived the drug as very important for Shire's potential acquisition by Takeda.
"With this morning's announcement from Shire, the nerves should evaporate." they wrote.
"We expect the shares to regain a premium valuation over the coming months possibly enhanced by its copper exposure, which has significantly underperformed iron ore by 10 percent year-to-date," wrote RBC analysts.
On the FTSE 250 <.FTMC>, travel operator On The Beach
"In a weaker demand environment OTB 1)is not burdened with distressed inventory being sold at a loss; 2) has low fixed overheads; and 3) sees its main cost, online marketing, automatically fall," wrote Berenberg analysts.
Land and property developer Henry Boot
"Despite ongoing economic uncertainty surrounding Brexit negotiations, the outlook for the business remains robust," wrote Peel Hunt analysts.
(GRAPHIC: FTSE 100 earnings Aug. 24 - https://reut.rs/2P33Cz1)
(Reporting by Helen Reid, Editing by)