London's FTSE 100 opened slightly higher on Thursday, extending yesterday's modest gains, ahead of the Bank of England's policy announcement later in the day. The central bank is widely expected to cut rates by 25 bps to 3.75%, encouraged by recent economic data, including an unexpected slowdown in inflation. Traders will also scrutinize the upcoming US inflation report for clues about the Fed's future moves. Rentokil led the gains, rising nearly 3%, after Bofa Global Research upgraded it to "buy" from "neutral" and lifted price target to 510 pence from 425 pence. Metlen Energy & Metals, up 1.6% and London Stock Exchange Group, up 1.3%, followed closely behind. Compass Group, Barratt Redrow, BAE Systems, Sainsbury's, Rolls and Ashtead were also among the top gainers. On the flip side, United Utilities dropped 1.9% to the bottom after its shares were marked ex-dividend. In corporate news, energy giant BP has appointed a female chief executive for the first time in its 116 year history.