In London, markets fell slightly as several trading updates came to light and many investors awaited the US Fed's interest rate decision, putting the FTSE 100 down 8.1 points (0.12%) to 6,557.3.
Xstrata shares made the biggest early gains after reports the firm was talking to potential bidders, up 140 points (3.83%) to £37.96, while Whitbread shares climbed 31 points (2.18%) to £14.55.
Hammerson lost 32 points (2.92%) to £10.64 in early trade, while British Land dropped 24.5 points (2.52%) to 948.5p.
On Wall Street, market closed significantly higher as investors became hopeful of a cut in interest rates and the Dow Jones was up 101.45 points (0.74%) to 13,727.03.
Caterpillar shares rose after an investment bank highlighted its work in China, up 2.38 (3.21%) to 76.58, while JP Morgan Chase gained 1.34 (2.91%) after it was revealed the bank is in talks with the Investment Corporation of Dubai on ways to co-operate.
AT&T shares dropped 0.57 (1.48%) to 37.90 and Walt Disney shares lost 0.44 (1.34%) to 32.35.
In Tokyo, markets made gains as UBS AG said it had received a liquidity injection, helping alleviate fears about the credit crunch, and the Nikkei 225 was up 120.33 (0.8%) to 16,044.72.
Orix shares gained 1,230 yen (5.6%) to 23,330 due to increased confidence in financial markets.
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