FTSE 100 Extends Gains Ahead Of Fed Meeting

U.K. stock rose sharply on Wednesday to extend gains from the previous session as investors hunted for battered stocks affected by the recent sell-off.

Sentiment was also underpinned after Microsoft forecast revenue for the current quarter broadly ahead of Wall Street targets.

Traders await a Federal Reserve decision later in the day to see how hawkish the Fed sounds in the fight against high inflation.

The benchmark FTSE 100 jumped 117 points, or 1.6 percent, to 7,488 after rising 1 percent on Tuesday.

Miners advanced, with Anglo American, Antofagasta and Glencore all climbing around 4 percent.

Gambling software firm Playtech tumbled 3.4 percent after its board reiterated its recommendation that shareholders vote in favor of the offer from Aristocrat Leisure Limited.

CMC Markets jumped 3.7 percent. The global provider of online trading and institutional platform technology solutions said it sees third-quarter results consistent with its annual guidance.

Shares of Tullow Oil declined 2.4 percent. The oil & gas exploration company said it expects this year's cash flow to come in at $100 million at an oil price of $75 a barrel.

Gold and silver miner Fresnillo plunged almost 13 percent after a disappointing trading update.

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