FTSE 100 up as GSK raises forecast, Fed meeting in focus

UK's FTSE 100 index opened higher on Wednesday as GSK led healthcare stocks higher after raising its full year forecast, while investors awaited a key U.S. Federal Reserve monetary policy decision later in the day. The blue-chip FTSE 100 rose 0.2%, extending gains from the previous session, with the mid-cap FTSE 250, too, eking out a similar gain by 0805 GMT.

UK's FTSE 100 index opened higher on Wednesday as GSK led healthcare stocks higher after raising its full year forecast, while investors awaited a key U.S. Federal Reserve monetary policy decision later in the day.

The blue-chip FTSE 100 rose 0.2%, extending gains from the previous session, with the mid-cap FTSE 250, too, eking out a similar gain by 0805 GMT. UK pharmaceuticals stocks rose 1.1% after GSK said it expects sales to rise between 8% and 10%, sending its shares up 0.6%.

Meanwhile, Metro Bank jumped 5.8% after it returned to profit in September. Banks were up 0.4% Investors globally remained optimistic ahead of the Fed's policy decision at 1800 GMT, with many hoping for signs of a slowdown in future rate hikes.

The Bank of England is expected to state its monetary policy decision on Thursday.

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