*

FTSE 100 down 0.2%, FTSE 250 falls 0.3%

*

Bank of England rate decision on Thursday

*

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

*

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

(Updates with closing prices)

Nov 3 (Reuters) -

London's main stock indexes dipped on Monday, dragged down

by materials and utilities shares, as investors prepare for a

week packed with major corporate earnings and the Bank of

England's closely watched interest rate decision.

The blue-chip FTSE 100 edged 0.2% down following

its nearly 4% jump in October.

The FTSE 250 midcap index also fell 0.3%,

dropping for a sixth straight session.

This week brings a busy earnings calendar with drugmaker

AstraZeneca ( AZN ), oil giant BP, spirits maker Diageo ( DEO )

and British Airways owner IAG all reporting.

Meanwhile, the BoE is

expected

to pause its rate-cutting cycle on Thursday, though recent

softer

inflation

and wage data could strengthen the case for a 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.

Industrial metal miners emerged as Monday's

primary laggards, down 2.2%, with Rio Tinto and Glencore ( GLCNF )

both sliding more than 2%.

The utilities sector also faced pressure,

with midcap companies Pennon Group ( PEGRF ), Renewable

Infrastructure Group and Greencoat UK Wind

declining between 2.8% and 4.7%.

Frasers ( SDIPF ) shed 5.4% after the RBC downgraded its

rating on the sportswear and fashion retailer to "sector

perform" from "outperform".

Vodafone Group ( VOD ) dropped 5.2% after UBS downgraded

its rating on the telecom company to "sell" from "neutral".

On the economic front, British factories

reported their strongest month in a year

in October, though the improvement was largely attributable

to Jaguar Land Rover resuming production after a cyberattack,

the S&P Global PMI data showed.

Back to stocks, financials, including life insurers

and banks, were the biggest

boosts.

Ceres Power Holdings ( CPWHF ) jumped 11.1% after Goldman

Sachs added the clean energy technology developer to its

European Conviction List - a list of top "Buy" rated stocks in

Europe.

Telecoms firm Airtel Africa ( AAFRF ) extended gains to a

fifth straight session after reporting earnings last week,

climbing 5.9% on Monday.