Vodafone rises in London, BOE in focus

LONDON (MarketWatch) � U.K. stocks traded in tight ranges on Thursday as investors awaited the Bank of England�s latest policy decision, while Vodafone Group PLC showed positive moves after a well-received earnings report.

The FTSE 100 index UK:UKX �inched 0.1% higher to 6,298.65, on track for a third day of gains.

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Shares of Vodafone UK:VOD �VOD �advanced the most in the U.K. benchmark index, 1.9%, after the wireless-telecom firm reported a drop in third-quarter revenue but affirmed its annual guidance for adjusted operating profit and free cash flow. See: Vodafone's sales hit by tough market in Europe

On a downbeat note, shares of luxury-goods firm Burberry Group PLC UK:BRBY �BURBY �slid 4.5%. The company said that after more than nine years with Burberry, Executive Vice President and Chief Financial Officer Stacey Cartwright would step down to pursue other interests. See: Burberry CFO steps down, Carol Fairweather named

Enlarge Image The Bank of England is widely expected to leave rates unchanged at 0.5%.

U.K. investors also waited for news from the Bank of England, with its latest monetary-policy decision scheduled for noon�London time, or 7 a.m. Eastern. The bank was widely expected to leave its key interest rate at a record low 0.5% and make no changes to its quantitative-easing program. See: Draghi unlikely to take up arms in currency war

Among other notable movers in London, shares of Compass Group PLC UK:CPG � gained 1.3%, after the food-services firm posted a nearly 6% rise in first-quarter organic growth.

Pointing in the other direction, shares of Royal Bank of Scotland Group PLC UK:RBS �RBS �fell 0.8%. On Wednesday, the bank was ordered to pay more than $610 million for its role in manipulating the London interbank offered rate. See: Royal Bank of Scotland settles Libor charges

Other banks were also lower, with shares of Standard Chartered PLC UK:STAN �down 0.7% and sector heavyweight HSBC Holdings PLC UK:HSBA �HBC �HK:5 �off 0.5%.