UK stocks rose on Wednesday after a sharp selloff in the previous session, with markets keenly awaiting the US Federal Reserve’s interest rate decision later in the day.
The blue-chip index was up 0.5% as of 0723 GMT and the mid-caps index rose 0.3%.
Most sectors were positive, with base metals and precious metal miners up nearly 1% each.
Investors expect a 25 basis point hike from the Fed at its policy rate announcement at 1800 GMT, with focus on how long interest rates would stay high.
Among corporate results, Coca-Cola HBC AG gained 1.6% as the company forecast full-year profit growth to be at the top end of its guidance, aided by robust demand for its soft drinks and executed price increases.
London stocks kick off May on jitters; HSBC shines
Haleon lost 3.5% as the world’s biggest standalone consumer health business reported first-quarter profit below analyst expectations.
Luxury carmaker Aston Martin Lagonda lost 1.4% on reporting a narrower quarterly pre-tax loss and maintaining its 2023 outlook.
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