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* Rate concerns continue to pressure UK indexes

* Watches of Switzerland falls by most on record

* Flutter climbs after 15% jump in Q4 revenue

* FTSE 100 flat, FTSE 250 adds 0.1%

Jan 18 (Reuters) - London's blue-chip index struggled on Thursday to recover from a three-day slide driven by concerns about interest rate cuts coming later than expected, while shares of Watches of Switzerland slumped after a bleak forecast.

The exporter-heavy FTSE 100 was flat at 0925 GMT, hovering near a seven-week low from the previous session after a slew of economic data and hawkish comments from central bank policymakers dampened sentiment.

Meanwhile, the mid-cap FTSE 250 index edged up 0.1% after closing at a five-week low on Wednesday.

Watches of Switzerland tumbled 28%, its worst fall on record, after the luxury watch retailer slashed its annual revenue forecast as economic headwinds prompted consumers to curb spending.

Its stock was the biggest decliner among FTSE 250 constituents.

The FTSE indexes have lagged major European markets so far in January, as a slide in commodity prices and an aggressive repricing of rate cut bets prompted investors to exit equities.

A stronger-than-expected British inflation reading on Wednesday drove investors to slash bets that the Bank of England will start rate cuts in May, instead pricing in a 53% chance of a 25 basis points cut in June.

Helping keep the mid-cap index afloat, Travis Perkins climbed 4.8% after Britain's biggest supplier of building materials forecast full-year 2023 core profit in-line with earlier forecast.

Flutter surged 11.4% after the online betting giant posted a 15% rise in fourth-quarter revenue.

Currys climbed 9.2% after the appliance and electronics retailer forecast full-year profit ahead of market expectations as stable gross margins and cost savings offset a fall in underlying sales over the Christmas trading period. (Reporting by Sruthi Shankar in Bengaluru; Editing by Mrigank Dhaniwala and Varun H K)