FTSE sticks to upwards trend as earnings season gathers pace.

FILE PHOTO: A broker looks at his computer screen on the dealing floor at ICAP in London, Britain January 3, 2018. REUTERS/Simon Dawson

LONDON (Reuters) - British shares traded higher on Wednesday, set for a fifth session of gains in a row as metal prices pushed basic material stocks higher and further first-quarter earnings reports from British firms lifted the London stock market.

At 0847 GMT, the FTSE index was up 0.57 percent to 7,563.38 points, a high since the beginning of February, when sterling was however about 5 percent higher than it is now against the dollar.

"The pound's sustained slump has finally given the FTSE the gumption to cross 7560, a level not seen in three months. Whether the index can maintain those highs, or if sterling can be dragged out of its current funk, may be down to April's construction PMI", Spreadex analyst Connor Campbell wrote ahead of the publication of the data.

By Julien Ponthus.

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