British stocks edge lower in muted trading

• The FTSE 100 and the FTSE 250 edged 0.1pc lower by 0807 GMT.
• Rating actions drove some moves, with blue-chip tour operator TUI dipping 2pc after Berenberg cut its rating on the stock.

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 0.1pc 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 2pc after Berenberg cut its rating on the stock. Mid-cap outsourcing group Capita dropped 4pc on a Deutsche Bank rating downgrade.