FTSE 100 flat ahead of BoE meeting; BT, Wood Group, ITV hit hard

The FTSE 100 remained unchanged on Thursday as investors awaited the Bank of England's (BoE) upcoming policy decision.

FTSE 100 flat ahead of BoE meeting; BT, Wood Group, ITV hit hard

The BoE is expected to reduce its key interest rate by 25 basis points to 4.75% in November, following a rate pause in September and a cut in August. Although expectations for a December rate reduction have diminished, three cuts are projected by the end of 2025. Among the top gainers, Shell, BP, and Rio Tinto saw increases between 0.9% and 1.7%, while HSBC rose 0.4%. On the downside, AstraZeneca, Unilever, and Relx each fell by over 0.5%.

BT, Wood Group, ITV, and Rolls-Royce shares drop after earnings news

In corporate news, BT Group's shares dropped 4.5% after it lowered its revenue forecast, while Wood Group plunged 28% to a record low following news of an independent contract review. ITV shares dropped 7%, marking the steepest decline in a year, after weak quarterly results, and Rolls-Royce fell 4% following its earnings report.