UK's FTSE 100 up slightly at start of earnings-heavy, BoE rate verdict week

Nov 3 (Reuters) - UK's FTSE 100 inched up on Monday, kicking off a week packed with corporate earnings from heavyweights, including AstraZeneca and BP, along with an interest rate decision from the Bank of England.

The blue-chip FTSE 100 .FTSE inched 0.1% to 9730.1 points by 1241 GMT, building on its near 4% jump in October, while the FTSE 250 midcap index .FTMC dipped 0.1% in the session.

It is shaping up to be a busy earnings week in the UK, with drugmaker AstraZeneca AZN.L, oil giant BP BP.L, spirits maker Diageo DGE.L and British Airways owner IAG ICAG.L reporting throughout the week.

The Bank of England is expected to keep interest rates on hold on Thursday, pausing its cycle of cuts for the first time since it started easing policy last year. However, softer inflation and wages data released in October could make the case for a rate cut.

"The committee is deeply divided, and we don't expect clear signals on the Bank's next steps," ING analysts said in a note.

On Monday, financials including life insurers .FTNMX303010 and banks .FTNMX301010 were the biggest boosts, with insurer Prudential PRU.L up 2% and top lender HSBC HSBA.L climbing 0.4%.

Industrial metal miners .FTNMX551020 were the laggards as shares of top miners Rio Tinto RIO.L and Glencore GLEN.L declined more than 1% each.

Among other UK assets, the pound GBP= inched 0.1% lower against the dollar, while government bond yields were slightly higher.

Back to stocks, telecoms firm Airtel Africa AAF.L extended gains to a fifth straight session after reporting earnings last week, jumping 5% on Monday.

Frasers FRAS.L shed 3.2% after the RBC downgraded its rating on the sportswear and fashion retailer to "sector perform" from "outperform".

Vodafone Group VOD.L dropped 2.5% after UBS downgraded its rating on the telecom company to "sell" from "neutral".

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