* FTSE 100 little changed, supported by GDP data
* Wolseley, Man Group results firm
* Resistance seen near current levels
By Simon Falush
LONDON, March 29 (Reuters) - Britain's top share index was little changed on Tuesday, outperforming European peers as results from Wolseley and Man Group reassured investors, though it was weighed down by weakness in BP after a downgrade.
A slightly better than forecast final reading of UK fourth-quarter GDP also helped lift sentiment.
By 0844 GMT, the FTSE 100 was up 1 point at 5,903.49 after it closed up 0.1 percent on Monday, near its 50-day moving average of 5,933.83. The index has traded below its 50-day moving average since March 4.
However Phil Roberts, chief European technical strategist at Barclays Capital, said the fact it had closed above its 100 day moving average for two consecutive days provided grounds for optimism that it could break through resistance.
"There is potential to move if we manage to close above the two-thirds retracement of the fall from February to March of 5,934 -- the same level the market collapsed from -- we could move back to 6,052 and the highs for the year around 6,100."
Firming a perception that corporate profits look to be set fair, Wolseley, the world's largest plumbers and builders merchant, posted a 64 percent rise in half-year trading profit and reinstated its dividend.
It was the top gainer, up 3.5 percent.
Hedge fund firm Man Group added 0.7 percent after it posted adjusted pretax profit of $560 million for the year to March and said it expects $700 million of net inflows in the three months to March.
Clothing retailer Next added 1.9 percent, with traders citing a bullish note from Morgan Stanley as the catalyst, in which they say the broker keeps its "overweight" stance on the firm and raises its target price to 2,800 pence from 2,470 pence.
The index recovered from negative territory after data showed Britain's economy contracted by slightly less in the final three months of 2010 than statisticians had earlier estimated, due to broad-based upward revisions to a range of sectors.
Energy stocks were the main drag on the index with BP off 1.2 percent. Traders said it was pressured by a downgrade by Collin Stewart and fallout from its proposed deal with Rosneft.
Banks, which drove most of the gains in the previous session, retreated, with Barclays down 1 percent.
As well as the GDP data, traders will also watch Bank of England February mortgage approvals and consumer credit data, UK fourth-quarter trade figures and business investment data -- all scheduled for release at 0830 GMT.
The Chancellor of the Exchequer also faces members of parliament on the Treasury Select Committee at 1400 GMT.
Across the Atlantic, U.S. March consumer confidence data is due at 1400 GMT, and the January Case-Shiller house price index is out at 1300 GMT.
Highlighting investor nerves associated with strife across the Arab world and an unresolved nuclear crisis in Japan, defensive tobacco stocks were among the top gainers, with British American Tobacco up 1.2 percent.
"The flight to the most defensive sector of them all could be a sign of impending overall weakness in the equity market," Manoj Ladwa, senior trader at ETX Capital, said. (Editing by Hans Peters)