Copyright Reuters
Summary Companies FTSE 100 down 0.3%, FTSE 250 flat Bank of England expected to keep rates at 4% amid inflation data Energy and pharma stocks decline Financials and metal miners gain, offsetting losses in other sectors Nov 6 (Reuters) - UK's main stock indices were little changed on Thursday as sterling steadied near multi-month lows, with traders pausing for breath ahead of the Bank of England's interest rate call. The central bank is widely expected to keep rates at 4% when it announces its decision at 1200 GMT, and its tone will be crucial to guiding sentiment as traders navigate the final stretch of the year. Sign up here. Still, a shift in stance from Goldman Sachs, which last week said it now expects a rate cut after softer inflation and wage data, has stirred some speculation. The blue-chip FTSE 100 index (.FTSE), opens new tab was 0.3% lower, retreating from a record high in the previous session, as gains in financials and metal miners were offset by a selloff in energy and pharma. The midcap index (.FTMC), opens new tab was flat. Oil and gas companies' shares lost ground despite a rise in oil prices, with BP (BP.L), opens new tab ticking 0.7% lower and Shell (SHEL.L), opens new tab down 0.4%. Shares of Healthcare and medical equipment and services also slipped, with GSK plc (GSK.L), opens new tab down 0.6%. Smith & Nephew PLC (SN.L), opens new tab plunged 10% after it missed market expectations for quarterly revenue due to weakness in its U.S. knee implants business. Trading in AstraZeneca (AZN.L), opens new tab was choppy, with shares last trading 0.2% lower. The pharma giant reported better-than-expected third-quarter profit on Thursday, boosted by strong sales in cancer and heart-related drugs. Financials led the gainers, with HSBC Holdings (HSBA.L), opens new tab, Standard Chartered (STAN.L), opens new tab and Barclays PLC (BARC.L), opens new tab up 0.9%, 1.1% and 1.5%, respectively. The Financial Times reported that Chancellor Rachel Reeves was set to spare them from a punitive budget tax raid. Metal miners climbed as copper and iron ore snapped a four-day losing streak. Rio Tinto (RIO.L), opens new tab rose 0.3% and Glencore PLC (GLEN.L), opens new tab jumped 2.2%. Reporting by Utkarsh Tushar Hathi; Editing by Saumyadeb Chakrabarty
