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

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FTSE 100 up 0.1%, FTSE 250 down 0.1%

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Bank of England rate decision on Thursday

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BP, AstraZeneca (AZN) among others to report earnings this week

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Frasers (SDIPF), Vodafone (VOD) down after rating downgrades

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

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

It is shaping up to be a busy earnings week in the UK, with drugmaker AstraZeneca (AZN), oil giant BP, spirits maker Diageo (DEO) and British Airways owner IAG 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 and banks were the biggest boosts, with insurer Prudential up 2% and top lender HSBC (HSBC) climbing 0.4%.

Industrial metal miners were the laggards as shares of top miners Rio Tinto and Glencore (GLCNF) declined more than 1% each.

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

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

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

Vodafone Group (VOD) dropped 2.5% after UBS downgraded its rating on the telecom company to "sell" from "neutral". (Reporting by Shashwat Chauhan in Bengaluru; Editing by Vijay Kishore)