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FTSE 100 flat after mixed corporate earnings

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By Reuters
FTSE 100 flat after mixed corporate earnings
FILE PHOTO: Financial traders work at their desks at CMC Markets in the City of London, Britain, April 11, 2019. REUTERS/Peter Nicholls   -   Copyright  PETER NICHOLLS(Reuters)
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(Reuters) – A slew of mixed corporate earnings left London’s FTSE 100 little changed on Thursday, while mid-cap aerospace firm Cobham surged to a more than three-year high after a buyout offer.

The main stock market index <.FTSE> swung between gains and losses in early deals, and was roughly flat by 0710 GMT, while the mid-cap FTSE 250 <.FTMC> outperformed with a 0.5% rise.

AstraZeneca <AZN.L> added 4% to top the blue-chip index after it raised its annual product sales forecast, but the gains were offset by steep, post-earnings losses in spirits company Diageo <DGE.L>, analytics provider Relx <REL.L> and software provider Sage Group <SGE.L>.

Cobham soared more than 34% to 165 pence, matching the 165 pence per share offer price from U.S. private equity group Advent International.

(Reporting by Shashwat Awasthi and Muvija M in Bengaluru; Editing by Shounak Dasgupta)

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