Reuters: Hot Stocks: Britain's FTSE creeps higher; Fed in focus

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Britain's FTSE creeps higher; Fed in focus Jun 19th 2013, 07:12 LONDON, June 19 | Wed Jun 19, 2013 3:12am EDT LONDON, June 19 (Reuters) - Britain's top shares rose on Wednesday in a session where moves were likely to be muted given uncertainty over whether the U.S. Federal Reserve might soon scale back the pace of its bond-buying operations. Investors' focus will be on Fed Chairman Ben Bernanke's news conference, half an hour after the central bank's post-meeting statement due at 1800 GMT, which could provide hints about the timing of any such reduction in purchases. By 0709 GMT, the FTSE 100 was up 4.61 points, or 0.1 percent, at 6,378.82, having risen 0.7 percent in the previous session in what was its fourth consecutive day of gains. "I think the rally in the last couple of days suggests that investors are anticipating that they get what they want to see... i.e. that (the Fed) remain(s) committed to preserving the support in the medium term (and) decisions will remain data dependent," said Ian Williams, equity strategist at Peel Hunt. "The upside might be a little bit limited after the move that's already happened," he said. (Reporting by Tricia Wright; Editing by Alistair Smout)

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