FTSE 100 Edges Up Amid Brokerage Boost; Midcaps Struggle

Britain's FTSE 100 index climbed slightly, aided by Diageo after a brokerage upgrade, while SThree dragged the midcap index down following a profit warning. Diageo had a substantial gain after an upgrade by UBS, whereas precious metal miners saw a decline. Currys rose significantly despite economic challenges.

The FTSE 100 index in the UK saw a slight uptick on Thursday, primarily driven by Diageo's performance following a brokerage upgrade. Diageo's shares spiked 2.8% as UBS shifted its rating to 'buy', significantly contributing to the beverages sector's 2.4% rise.

Meanwhile, the midcap index FTSE 250 fell, notably influenced by SThree's staggering 26.5% drop to a four-year low as it warned of missing its profit forecasts amid Europe's economic uncertainties. Despite this, Currys surged 17.3% as it projected positive annual profit growth.

European stocks showed mixed reactions following a 25 basis point interest rate cut by the European Central Bank. The Bank of England is anticipated to keep rates constant, with its upcoming decision being closely monitored against economic indicators like the GDP estimate for October.

(With inputs from agencies.)