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Britain's FTSE moves in tight range before Fed; Just Eat drops


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UPDATE 1-Britain's FTSE moves in tight range before Fed; Just Eat drops


* FTSE 100 end flat

* Just Eat leads fallers on competition worries

* Glencore gains after Congo settlement (Adds closing prices)

MILAN, June 13 (Reuters) - The FTSE 100 ended flat onWednesday as a weaker pound supported export-oriented shares,helping offset a fall in Just Eat on fresh competition worriesand weaker energy stocks.

The index .FTSE fluctuated within a tight range asinvestors waited for a string of central bank decisions thisweek, starting with the U.S. Federal Reserve later in the day. urn:newsml:reuters.com:*:nL1N1TD1NR

Just EatJE.L fell 4.7 percent, leading fallers on theFTSE, after Deliveroo stepped up competition against its rival,saying it would allow restaurants to use their own riders fororders placed through its app. urn:newsml:reuters.com:*:nL8N1TE47J

"It's a model used by Just Eat, and means Deliveroo's armyof mopeds is potentially set to mount a significant challenge tothe FTSE 100 firm's grip on the food delivery sector," saidConnor Campbell, analyst at Spreadex.

Domino's PizzaDOM.L was also lower, down 2.7 percent.

The energy sector had the biggest negative pull, taking 12points off the FTSE.

Oil majors Royal Dutch ShellRDSa.L and BP BP.L fell 1.1and 0.9 percent respectively but ended off their day's low asoil prices turned higher after U.S. government data showed abigger weekly draw than expected on domestic crude inventories. urn:newsml:reuters.com:*:nL4N1TF1P2

Heavyweight miner GlencoreGLEN.L rose 3.7 percent afterits Congo unit reach a settlement to dissolve a copper andcobalt joint venture. urn:newsml:reuters.com:*:nL1N1TE1YC

Big international firms such as DiageoDGE.L , BAT BATS.L and Shire SHP.L rose between 0.6 and 1.1 percent, extendinggains as sterling fell to a one-week after data that failed tobolster chances of an interest rate increase in August.

Rate-sensitive banks were also broadly lower with Royal Bankof Scotland RBS.L and Lloyds LLOY.L down 1.4 and 0.5 percentrespectively.

Elsewhere, Dixons CarphoneDC.L shares fell 2.8 percentafter the company announced a data breach in which 1.2 millionrecords of non-financial personal information had been accessed.

British small-cap Connect GroupCNCTC.L fell 44 percentafter the logistics firm warned full-year profits and dividendswould be "materially" lower than expected, and CEO Mark Cashmorestepped down. urn:newsml:reuters.com:*:nL4N1TF2VJ (Reporting by Danilo Masoni Editing by Andrew Heavens andElaine Hardcastle) ((Danilo.Masoni@TR.com; +39-02-66129734; Reuters Messaging:danilo.masoni.thomsonreuters.com@reuters.net; On Twitter https://twitter.com/damasoni))

(( For related prices, Reuters users may click on - * UK stock report .L FTSE index: 0#.FTS6 techMARK 100 index: .FTT1X FTSE futures: 0#FFI: Gilt futures: 0#FLG: Smallcap index: .FTSC FTSE 250 index: .FTMC FTSE 350 index: .FTLC Market digest: .AD.L Top 10 by vol: .AV.L Top price gainers: .NG.L Top % gainers: .PG.L Top price losers: .NL.L Top % losers: .PL.L

* For related news, click on - * UK hot stocks: [HOT and GB] Wall Street: .N Gilts report: GB/ Euro bond report GVD/EUR Pan European stock report: .EUTokyo stocks: .T HK stocks: .HK Sterling report: GBP/ Dollar report: USD/

* For company prices, click on - * Company directory: UKEQ By sector: FTAX

* For pan-European market data, click on - * European Equities speed guide................ EUR/EQUITY FTSE Eurotop 300 index........................... .FTEU3 DJ STOXX index................................... .STOXX Top 10 STOXX sectors........................ .PGL.STOXXS Top 10 EUROSTOXX sectors................... .PGL.STOXXES Top 10 Eurotop 300 sectors.................. .PGL.FTEU3S Top 25 European pct gainers.................... .PG.PEUR Top 25 European pct losers..................... .PL.PEUR ))




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