London stocks set for weekly gains; Smith+Nephew rises on rating bump

Nov 3 - Britain's benchmark FTSE 100 index advanced on Friday and was on track for weekly gains, as medical products maker Smith+Nephew shares rose on a rating upgrade, while Bank of England's decision to hold interest rates further lifted sentiment.

Rate sensitive stocks climbed as the BoE held interest rates at a 15-year peak of 5.25% on Thursday, but said it did not expect to cut them any time soon. The medical equipment and services index climbed 2.7% to lead sectoral gains, lifted by a 3.8% jump in Smith+Nephew after broker JP Morgan raised the stock to"Overweight" from"Neutral".Top sectoral decliner oil and gas lost 0.8% as crude supply concerns driven by the Middle East conflict eased and top importer China's demand outlook remained uncertain.

British electricals retailer Currys agreed to sell its Greek business Kotsovolos to Public Power Corporation for an enterprise value of 175 million pounds .

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