BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were modestly higher in cautious trade on Wednesday after major U.S. indexes broke a two-day losing streak overnight, helped by gains in technology and consumer-focused companies.
The U.S. Federal Reserve ends its two-day policy meeting later today, with many expecting a 25 bps rate hike, despite President Donald Trump's criticisms.
However, the policy statement accompanying the rate decision is likely to be dovish amid rising risks to growth.
Meanwhile, the Bank of England is set to keep interest rates unchanged when it reviews its monetary policy on Thursday.
The benchmark FTSE 100 was up 37 points or 0.55 percent at 6,738 in opening deals after declining 1.1 percent in the previous session.
GlaxoSmithKline Plc shares soared over 7 percent after the company agreed to combine its consumer healthcare business with Pfizer Inc.
Gambling operator GVC Holdings jumped 4.2 percent. The company noted that the U.K. government has enacted the cut in B2 gaming machine maximum staking levels to 2 pounds.
Royal Mail, which issued a shock profit warning in October, lost 2.7 percent.
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