FTSE 100 up 0.6, FTSE 250 adds 0.3
British election polls underway
Smith Nephew gains after Cevian Capital discloses stake

July 4 Reuters London39;s FTSE 100 climbed on Thursday, boosted by gains in medical equipment company Smith Nephew, while parliamentary polls in the country were underway with the Labour Party looking set to win.

The bluechip FTSE 100 was up 0.6 after logging its best day in nearly two weeks in the previous session, while the midcap FTSE 250 was up 0.3, as of 0755 GMT.

Polling for the parliamentary elections in the UK started at 0600 GMT and will continue throughout the day with an exit poll scheduled for 2100 GMT.

Opinion polls showed the Labour Party winning, replacing the Conservatives after 14 years. Investors believe the market has already priced in the change, with the results due early on Friday.

Both parties are quite similar in economic policies. There will be some change, but most of it is continuity when you compare with what39;s happening in France or Germany, said Gervais Williams, head of equities at Premier Miton.

The UK is actually an island of economic stability relative to the other elections going on around.

Trading activity in the session is expected to be low as the U.S. markets are closed for a holiday.

Medical equipment and services stocks gained 4.7, the most among the sectors. Smith Nephew shares jumped 6.4 to their highest in more than three months and to the top of the benchmark index after Cevian Capital…