Britain's FTSE 100 climbs on miner and energy gains; Fed in focus

London’s FTSE 100 edged higher on Wednesday, supported by mining and energy stocks, as investors monitored developments in the Middle East and awaited the U.S. Federal Reserve’s interest rate decision later in the day.

The blue-chip FTSE 100 index rose 0.2% to 10,894.67 points by 1038 GMT, while the midcap FTSE 250 inched 0.09% higher.

Industrial metal miners led gains, rising 2.3%, after Glencore climbed 4% on a 15% increase in first-half copper production, while Rio Tinto gained 2.3% after reporting a 43% jump in half-year underlying earnings, its highest in four years.

Energy stocks also climbed 1.7% as oil prices rose more than 3% after the U.S. launched its first airstrikes in the Middle East since suspending its bombing campaign last week, hitting Iran-backed groups in Iraq jointly with Saudi Arabia, while Tehran rejected an Omani plan to manage the Strait of Hormuz.

The U.S. Fed is expected to hold rates steady on Wednesday, with Chair Kevin Warsh’s statement watched for policy clues, while the Bank of England is due to announce its decision on Thursday.

Among other movers, Greggs rose 14% to the top of the midcap index after Britain’s biggest fast-food chain reported a 20% rise in first-half profit.

Aberdeen Group fell 4.5%, making it the worst performer on the benchmark index, after the British asset manager reported first-half net outflows of 3 billion pounds ($4 billion).

Weir Group rose 7.6% and was the top gainer on the FTSE 100 after the engineering firm reported strong second-quarter results.

Aston Martin climbed 1.4% after the luxury carmaker maintained its full-year forecasts.