* Mid-cap stock Go-Ahead surges on contract win
* FTSE 100 slips 0.3 pct
* Traders cite uncertainty over EU elections
* Early results show strong gains for anti-EU UKIP party
* FTSE has stalled after hitting new highs last week
By Sudip Kar-Gupta
LONDON, May 23 Britain's top equity index
slipped on Friday with uncertainty over European Union elections
weighing on the market, although transport company Go-Ahead
surged after winning a new contract.
Go-Ahead outperformed the weaker UK stock market to rise 7.4
percent after it won a contract to run the expanded Thameslink
rail network in London.
Analysts at Panmure Gordon kept a "hold" rating on
Go-Ahead's shares but said they would increase their earnings
forecast on the company to reflect its new contract win.
However, the blue-chip FTSE 100 index was down by
0.3 percent, or 23.05 points, at 6,797.51 points in early
The FTSE climbed to 6,894.88 points last week, which marked
its highest level since December 1999, but has since retreated
from those highs.
Darren Courtney-Cook, head of trading at Central Markets
Investment Management, said uncertainty over EU elections and
voting this weekend in Ukraine - where authorities have clashed
with pro-Moscow supporters - was weighing on equity markets.
Early results on Friday showed that Britain's anti-EU UKIP
party had made strong gains in local elections.
"We've got geopolitical risks related to Ukraine and the EU
elections," said Courtney-Cook.
The FTSE is up by around 1 percent since the start of 2014.
Many investors expect the FTSE to hit a record high of 7,000
points later this year, but the index has so far failed to
breach the 6,900 point mark - which some traders have taken as a
sign that a short-term pullback on the index is likely.
"This bull run is just looking a bit tired at the moment,"
said Hantec Markets analyst Richard Perry.
(Editing by Ruth Pitchford)