UK's FTSE 100 listless as commodity slump offsets Ashtead strength

UK's FTSE 100 was flat on Tuesday as losses in material stocks following a lacklustre economic data from top commodity consumer China offset an upbeat performance by Ashtead after the equipment rental giant forecast strong annual numbers.

The large-cap FTSE 100 was flat at 7,826, while the mid-cap FTSE 250 was also listless by 0820 GMT. The industrial metals miners shed 0.1% after trade data from China pointed to continued weakness in demand for the country's products during the January-February period.

Lifting the industrial goods and services sector , shares of Ashtead Group Plc rose 2.7% after the company forecast annual results ahead of its estimates and also raised capital spend outlook for the next year. Later in the session, Federal Reserve Chair Jerome Powell is expected to testify before the Senate Banking Committee and markets will scrutinize his remarks for clues on monetary policy of the U.S. central bank moving forward.