2017.06.1405:34:00UTC+00European Shares Climb before Fed Meeting

European stocks inched higher Wednesday as traders highly anticipate the Federal Reserve's monetary decision.

The FTSE 100 stood at 7,507.67, up 0.1%. It previously ended down 0.2%, as the pound touched the $1.27 mark. The Stoxx 600 added 0.5%, with the majority of sectors trading in an upbeat territory.

Technology stocks headlined the advances in early deals after recovering from a major sell-off earlier this week. Basic resources shares glided higher as well on news that Fosun is to offer over £224.6 million ($287 million) for Gemfields.

Hexagon topped the European benchmark in early trade as it gained 16% following reports the company was in discussions to sell itself to its rival.