Tech, utilities drag UK stocks lower

Aug 28 (Reuters) - UK's blue-chip and midcap stocks fell for a third consecutive session on Thursday, with utilities and technology shares dragging on the indices, as investors assessed chip giant Nvidia's results.

The blue-chip FTSE 100 .FTSE and the domestically focussed midcap index .FTMC both shed 0.5% by 1030 GMT.

Drax Group DRX.L led declines on the midcap, falling 9.7% after Britain's financial watchdog investigated the energy company's biomass sourcing disclosures.

Other utility stocks .FTUB6510 were also under pressure, with Centrica CNA.L, SSE SSE.L and United Utilities UU.L down between 1.4% and 1.7%.

Technology index .FTUB1010 shed 1.5%, tracking global moves, after results of AI bellwether Nvidia NVDA.O fell short of some analysts' expectations.

Precious metal mining stocks .FTNMX551030 dipped 1.7%, with Hochschild HOCM.L and Endeavour Mining EDV.L falling 3.2% and 2.3%, respectively.

Among other individual stocks, PPHE Hotel PPH.L was the top decliner on the FTSE 250, slumping 13.8% after the hospitality group posted a half-yearly earnings decline.

Barclays BARC.L slipped 1.1% after the British lender agreed to sell its stake in joint venture Entercard Group to partner Swedbank AB SWEDa.ST for approximately 2.6 billion crowns ($273.2 million).

On the flipside, IT firm Softcat SCTS.L was the top gainer on the midcap index, adding 3.8% after lifting its annual profit growth forecast for the third time in six months.

Meanwhile, the Confederation of British Industry said that services business reported a fall in confidence and activity this month; the leading employers group called on finance minister Rachel Reeves to defer from adding more corporate tax burden.

The UK's blue-chip index had touched a record high last week when global markets got a lift after U.S. Federal Reserve Chair Jerome Powell signalled a possible interest rate cut at the central bank's September meeting.

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