1630:Close The FTSE closed down 53 points on Tuesday, as investors grow jittery over the potential outcome of the Fed's two-day policy meeting. The Fed is widely expected to maintain its main policy rate at between 0.0 per cent and 0.25 per cent and cut its monthly asset purchases from 85bn dollars to 70bn. In UK news, the ONS reported that inflation grew at a slower pace in August compared to the previous month, while the region managed to escape a drop in EU new car registrations, bucking the wider trend to post a 10.9 per cent rise for August. The FTSE closed at 6,570.
1543: The FTSE 100 has picked up off its intraday lows following a positive start on Wall Street. Helping the slight rebound are falling oil prices, which are declining for a third straight day, continuing to pull back as tensions over Syria ease. West Texas crude futures are now down below 106 dollars a barrel and trading at levels not seen since late August. London's benchmark index is trading down 22.79 at 6,600.07.
1522: Microsoft Corp. has authorised a new 40bn dollar
share repurchase programme and a 22 per cent increase in its quarterly dividend payment. That share authorisation replaces the previous one, which was meant to expire on September 30th.
1435: US markets have opened on a positive note, albeit with modest gains, as investors await the outcome of the two-day Fed meeting. Microsoft was on the rise having upped its quarterly dividend by five cents a share. In other news, EU new car registrations fell to a record low, although Britain managed to escape the downturn and delivered a 10.9 per cent expansion. The FTSE is down 23 points at 6,600.
1330: Consumer prices in the US rose less than forecast in August. The consumer price index was up 0.1 per cent after a 0.2 per cent gain in July, according to the Labor Department.
1200: Gold was trading above a five-week low in New York as a weaker dollar prompted demand for an alternative investment before the Federal Reserve's policy meeting.
1100: German investor sentiment rose more than expected in September due to an improved outlook for the Eurozone. A monthly poll of economic sentiment rose to 49.6 from 42 in August, ZEW economic think tank said.
0931: Shares of Investec, the broker, fell by over seven per cent after it announced that its interim adjusted earnings per share (EPS) in sterling are expected to be between 0 per cent to 10 per cent lower than in the prior year, although when expressed in South African Rands its is expected to be 4 per cent to 16 per cent higher than the prior year.
0930: UK consumer prices advanced at a 2.7 per cent pace in August, as expected by economists.
0844: UK shares
have started the Tuesday session with slight losses, led lower by basic resource firms and banks - such as Lloyds and RBS. That follows UKFI´s announcement yesterday evening of its intention to place a 6 per cent stake in Lloyd´s amongst institutional investors. It had been thought that the government would initially sell down a 5 per cent block of shares. Interestingly, some traders can be heard saying that Lloyd´s shares are now effectively capped at that price - time will tell. Wall Street equity benchmarks ended the day mixed ahead of Wednesday´s policy announcement from the Federal Reserve. At 09:30 ONS will release August inflation data [consensus: 2.7%; last: 2.8%]. FTSE 100 down 17 to 6,606.