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London Markets: FTSE 100 rallies as Fed keeps interest rates on hold

U.K. stocks moved firmly higher on Thursday after the U.S. Federal Reserve kept interest rates at a near-record low, but hinted a hike could come in December.

The FTSE 100 index UKX, +1.37% rose 1.3% to 6,923.03, setting it on track for a fourth straight gain.

The blue-chip benchmark on Wednesday eked out a small gain. The move came as banks advanced after the Bank of Japan kept its monetary policy ultra-accommodative and shifted focus to yield-curve control.

The Fed was the next central bank in the frame, releasing its decision after the European markets closed on Wednesday.

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