London was depressed this morning ahead of today's announcement from the Federal Open Market Committe...
The FOMC is the branch of the Federal Reserve Bank that sets interbank lending rates in the US.
Most analyts are predicting a 0.25% cut to US short-term interest rates from the 2% level, which would take the country further into territory uncharted for the past 40 years.
Wall Street closed down yesterday ahead of the decision - the Dow Jones Industrial Averate off 128.01 at 9,921.45 and the Nasdaq Composite index falling below the 2,000 points level by shedding 29.14 to close at 1,992.12.
Asia was quiet this morning too, with Hong Kong's Hang Seng index down by 91.87 points at 11,693.05.
The biggest loser on the FTSE-100 today so far is British Airways, off 10.25p to 218p, as the market mulls over an expected £1bn rights issue.
The company is expected to have to offer a significant discount to the current share price given current trading conditions, the question now is how much of a discount.
Best gainer is Compass Group, which provided an upbeat trading statement today, saying top line growth estimates of 6-9% continue to hold.
Shares jumped 24.75p to 494.75p on the news.
Other indices such as the FTSE-250, FTSE-350, FTSE Small Cap, and techMARK are all down today so far.
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