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FTSE 100 Little Changed Ahead Of BoE Rate Decision

U.K. stocks were little changed in cautious trade Thursday and the pound weakened for the fourth day to hover near a seven-month low as investors awaited the Bank of England's monetary policy decision.

No change is expected to the bank rate, but investors look for any hints of an August rate rise.

On the data front, the U.K. budget deficit reached its lowest May level since 2005, figures from the Office for National Statistics showed today.

Public sector net borrowing, excluding public sector banks, decreased by GBP 2.0 billion from last year to GBP 5.0 billion in May. This was the lowest May net borrowing since 2005 and below the expected level of GBP 6.3 billion.

The benchmark FTSE 100 was marginally higher at 7,634 in late opening deals after gaining 0.3 percent on Wednesday.

BP Plc edged up slightly after Australia's Woolworths cancelled a A$1.8 billion ($1.3 billion) sale of its petrol stations to the company.

Property developer Berkeley Group Holdings lost 2 percent, a day after it warned of a 30 percent fall in pre-tax profit this year.

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