UK equities traded largely flat on Thursday morning as investors awaited the Bank of England’s latest interest rate decision, while sterling edged lower and major European markets moved higher. By 08:18 GMT, the FTSE100 was down marginally by 0.01%, and the pound slipped 0.07% against the US dollar, remaining just above the 1.33 level.

Across Europe, sentiment was more positive, with Germany’s DAX rising 0.1% and France’s CAC40 gaining 0.2% in early trading.

Markets are widely expecting the Bank of England to cut interest rates by 25 basis points to 3.75%. Economists anticipate a close vote, potentially split 5–4, with Governor Andrew Bailey expected to support easing. However, stronger-than-expected UK inflation data for November, particularly a sharp fall in food prices, has increased speculation that the vote could swing to a 6–3 split.

In company news, BP PLC (LSE:BP.) announced that Meg O’Neill will take over as chief executive from 1 April 2026. Current CEO Murray Auchincloss will step down from both his executive role and the board on Thursday, with Carol Howle appointed as interim chief executive during the transition period.

Elsewhere, Currys PLC (LSE:CURY) reported a strong set of first-half results. The electronics retailer said adjusted profit before tax jumped 144% to £22 million for the 26 weeks to 1 November. Group revenue increased 8% year on year to £4.23 billion, compared with £3.92 billion previously. On a currency-neutral basis, revenue rose 6%, while like-for-like sales across the group grew 4%.

Adjusted earnings before interest and tax increased 32% to £54 million, with reported EBIT rising to £43 million from £29 million. The improvement was driven by higher sales volumes and particularly strong performance in the Nordic region.

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