* FTSE 100 up 0.4 percent
* BP, BG Group among top blue-chip risers after results
* Imperial Tobacco, Reckitt Benckiser firm on results
By Tricia Wright
LONDON, Nov 2 (Reuters) - Britain's top share index rose on Tuesday, buoyed by oil stocks after results from BG Group and BP , though moves were muted as investors awaited the outcome of a U.S. Federal Reserve policy-setting meeting.
By 0919 GMT, the FTSE 100 was up 23.09 points, or 0.4 percent, at 5,717.71, after it closed 0.3 percent higher on Monday.
Energy stocks added the most points to the index, with BP climbing 1.9 percent following third-quarter results, with traders saying bad news surrounding the Gulf of Mexico oil spill was well priced in.
"I think with regards to BP, a lot of the uncertainty is out of the way, and it is slowly but surely getting back to business," Manoj Ladwa, senior trader at ETX Capital, said.
Peer BG Group, meanwhile, rose 2 percent after it posted a 12-percent jump in third-quarter net profit and significantly upgraded its Brazilian resources.
Elsewhere, Aviva put on 1.9 percent after the insurer reported sales for the first nine months in line with expectations and said it was set for "strong profitable growth" in 2010.
UNDERLYING CAUTION
But despite the upbeat corporate newsflow, investors remained wary ahead of a hotly anticipated Fed meeting that is anticipated to ease monetary policy, and U.S. mid-term elections.
Expectations that the Fed will pile at least $500 billion into the economy are already built into investors' assumptions.
"We've had fairly decent corporate numbers out today and we're likely to see that going into the rest of the week as well," ETX Capital's Ladwa said.
"But of course you've got the mid-term elections (and) you've got the prospect of further QE from the Fed announcement this week, so I think everyone's waiting for that and that's why volumes are fairly low," he said.
Reckitt Benckiser advanced 1.8 percent, among the top blue-chip gainers, after the consumer goods maker beat forecasts with an 18-percent rise in third-quarter earnings.
And Imperial Tobacco, the world's fourth-biggest cigarette maker, rose 1.8 percent after meeting forecasts with an 11-percent rise in annual earnings as price increases offset lower overall sales volumes.
Banks were largely in negative territory, with Lloyds Banking Group slipping 0.2 percent as a trading update failed to excite.
Royal Bank of Scotland, due to issue an update on Friday, shed 0.6 percent, while Barclays was flat ahead of its update on Nov. 9. (Editing by Louise Heavens)