* BT gains; cost cuts help it raise guidance

* Pharma stocks in demand; UBS lifts GSK's target

* Energy stocks weaker as crude slips

By Tricia Wright

LONDON, Nov 12 (Reuters) - Britain's top share index was flat early on Thursday, as investors cheered BT Group's (BT.L: Quote, Profile, Research) second-quarter results, offsetting weakness in energy stocks and miners.

At 0913 GMT, the FTSE 100 .FTSE was up 0.47 points at 5267.22. The index ended 0.7 percent higher on Wednesday, having touched an intraday high at a level not seen since September 2008, after a jump in Chinese factory growth and reassuring signals on the UK economy.

"Investors are still digesting comments from the Bank of England in its inflation report yesterday, and maybe the figures we had out of China are still blowing through the market, said Keith Bowman, analyst at Hargreaves Lansdown.

"BT's figures have been well received, certainly at the top end of expectations, and I think that's aiding sentiment as well," he said.