London stocks end event-packed week lower amid fiscal worries

Sept 19 (Reuters) - London stocks ended an eventful week lower on Friday after a report showed Britain's borrowing had exceeded official forecasts, dampening consumer sentiment amid fiscal uncertainty.

The blue-chip FTSE 100 .FTSE closed down 0.12%, registering a marginal weekly decline on looming worries around inflation. The mid-cap FTSE 250 .FTMC fell 0.63% and also recorded a weekly loss.

Britain's borrowing has shot past the official forecasts that underpin the government's tax and spending plans, compounding the already big challenge facing finance minister Rachel Reeves in her November budget.

A survey showed on Friday that Britons turned more downbeat this month, with the looming prospect of tax hikes threatening to further dent consumer confidence.

Sterling fell and was the worst performer among G10 currencies, mirroring investors' concerns that Reeves may not be able to keep her budget under control.

UK retail sales for August showed a modest improvement, but broader economic concerns kept traders cautious.

The Bank of England's widely expected pause on Thursday followed a quarter-point cut in August, as it navigates sticky inflation, an uncertain growth and jobs outlook.

Major brokerages including Goldman Sachs, Citigroup and JPMorgan expect no more interest rate cuts by the BoE this year after the British central bank kept its key rate on hold.

Earlier this week, central banks in the U.S., Canada and Norway cut interest rates, boosting hopes of more easing to come. The Fed's 25 basis-point rate cut lifted riskier assets in the previous session.

Media stocks .FTNMX403010 fell the most among sectors, down 2.2%, with WPP Plc WPP.L declining 5.2%.

However, gains in precious metal miners .FTNMX551030 helped stem losses in the FTSE 100, up 5%, as gold prices moved higher. GOL/

Fresnillo FRES.L, Hochschild HOCM.L and Endeavour Mining EDV.L gained between 5.2% and 4.5%.

Among individual stocks, IG Group IGG.L said it had acquired Australian cryptocurrency exchange Independent Reserve for A$178 million ($117.4 million). Shares of the online trading platform declined 2.9%.

Spire Healthcare SPI.L jumped 14.1% after the private hospital group said it was exploring strategic options, including a potential sale of the company.

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