London's FTSE 100 rose on Wednesday led by financial stocks, as investors await a second consecutive rate hike from the Bank of England on Thursday.

The blue-chip FTSE 100 index gained 0.5%, while the domestically focused mid-cap index was up 0.7%.

The banking sub-index rose 0.3% as expectations of a 50-basis-point increase in rates from the BoE pushed yields up, with the two-year yields at a level last seen in May 2011 and the five-year yields on British bonds at their highest level since Oct 2018.

Mining, bank stocks lift FTSE 100

Copper ticked up on Wednesday as the dollar remained restrained after recently tumbling from a 19-month peak, while gold prices were hovering close to the $1,800 psychological level.

Among individual shares, Vodafone gained 2.9% after the network provider said it was on track to meet its full-year guidance after reporting a 2.7% rise in third-quarter group service revenue, with growth in both Europe and Africa.