By Sara Sjolin, MarketWatch

LONDON (MarketWatch) -- The U.K.'s FTSE 100 index ended slightly higher after a wobbly session on Thursday, with optimism over a dovish European Central Bank offsetting declines among drug makers.

The FTSE 100 index closed 0.2% higher at 6,551.15, after trading as high as 6,580.21 earlier in the afternoon.

The afternoon optimism came after ECB President Mario Draghi hinted the Governing Council is moving toward full-blown quantitative easing if current measures aren't enough to beef up the sluggish eurozone economy.

The Bank of England offered no surprises, keeping its key lending rate at 0.5%, a record low, and the size of its bond portfolio at 375 billion pounds ($599 billion).

Adding pressure in London, shares of AstraZenaca PLC dropped 0.6%, after the drug maker reported a sharp decline in third-quarter profit. GlaxoSmithKline PLC (GSK) lost 0.3%.

RSA Insurance Group PLC lost 5% after the company posted a decline in net written premiums.

On a more upbeat note, shares of Randgold Resources Ltd. jumped 8.2% after the gold producer reported a rise in third-quarter profit, as higher output offset lower gold prices.

In U.K. data news, the Office for National Statistics said production rose 1.5% in September, year-over-year, a tad lower than consensus forecasts, according to FactSet.

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Governments are in trouble, reform efforts have stalled, unemployment is climbing... the news from the eurozone is bleak. And investors are fleeing. But that's a mistake: The worse the economic data from Europe get, the more you should be buying. Why? Because actions by the ECB will boost asset prices and the stock market in particular. And, big exporters can grow sales. Lower costs and steady sales translate into higher profits and dividends. Join us for an evening of cocktails and conversation to explore these opportunities.

Our panel will be led by MarketWatch Columnist Matthew Lynn, a renowned financial journalist based in London and the author of "Bust: Greece, the Euro and the Sovereign Debt Crisis." He'll be joined by Mark Hulbert, MarketWatch columnist and editor of the Hulbert Financial Digest. This event is free, but RSVPs are required. It will be held Wednesday evening, Dec. 3, in London. For more information or to RSVP, send an email to marketwatchevent@wsj.com

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