FTSE 100 Holds Steady Ahead Of BoE Rate Decision

(RTTNews) - U.K. stocks held steady on Thursday ahead of a policy meeting of the Bank of England (BoE) later in the day.

The central bank is set to hold its policy rate flat for a sixth meeting in a row, with focus likely to be on the MPC vote split, inflation outlook and Governor Andrew Bailey's comments.

The benchmark FTSE 100 was marginally higher at 8,361 after rising half a percent on Wednesday.

Oil & gas stocks traded higher as crude prices extended overnight gains on positive trade data from China. BP Plc climbed 0.8 percent and Shell added half a percent.

Oil services company John Wood Group added about 1 percent after confirming its FY24 and FY25 guidance.

ITV rallied 1.8 percent despite the broadcaster reporting a fall in first-quarter revenues.

BAE Systems rose 0.7 percent. The arms, security and aerospace company backed its FY24 outlook after delivering a strong performance so far this year.