The FTSE 100 inched up on Monday, commencing a week filled with corporate earnings reports from major players, including AstraZeneca and BP, alongside an interest rate decision from the Bank of England. The blue-chip FTSE 100 inched 0.1% to 9730.1 points by 1241, building on its near 4% jump in October, while the FTSE 250 midcap index dipped 0.1% in the session. This week is poised to be particularly active for earnings reports in the UK, featuring announcements from pharmaceutical company AstraZeneca, oil powerhouse BP, beverage producer Diageo, and the parent company of British Airways, IAG, all scheduled to report their financial results during the week.

The Bank of England is anticipated to maintain interest rates at their current level on Thursday, marking a halt in its cycle of reductions for the first time since it commenced easing policy last year. Nonetheless, the release of softer inflation and wages data in October may support the argument for a rate cut. Analysts noted that the committee is significantly divided, and they do not anticipate clear signals regarding the Bank’s forthcoming actions.

On Monday, financials including life insurers and banks were the biggest boosts, with insurer Prudential up 2% and top lender HSBC climbing 0.4%. Industrial metal miners were the laggards as shares of top miners Rio Tinto and Glencore declined more than 1% each. In the context of other UK assets, the pound experienced a marginal decline of 0.1% against the dollar, whereas government bond yields saw a slight uptick.

Returning to the equities market, telecom company Airtel Africa has extended its gains for a fifth consecutive session following the release of its earnings report last week, surging by 5% on Monday. Frasers shed 3.2% after RBC downgraded its rating on the sportswear and fashion retailer to “sector perform” from “outperform.” Vodafone Group dropped 2.5% following UBS’s downgrade of its rating on the telecom company to “sell” from “neutral.”