British stocks edge lower in muted trading

UK shares inched lower in light trading on Thursday, as a lack of major drivers led investors to lock in some of the recent gains ahead of the Christmas holiday season. The FTSE 100 and the FTSE 250 edged 0.1% lower by 0807 GMT.

Traders are looking ahead to a Bank of England meeting later on Thursday and a parliamentary vote on Prime Minister Boris Johnson's Brexit deal on Friday, though neither is expected to jolt markets. Rating actions drove some moves, with blue-chip tour operator TUI dipping 2% after Berenberg cut its rating on the stock. Mid-cap outsourcing group Capita dropped 4% on a Deutsche Bank rating downgrade.