Wall Street shares were relatively flat in early morning trading as investors locked in profits as they await the Federal Reserve's interest rate decision later today.
The Dow Jones climbed by 0.38 points (0.01%) to reach 9830.25 after a solid performance yesterday where it gained 51 points.
Technology stocks led the gains after Intel chief executive Paul Otellini said the worldwide computer market is pulling out of its slump and is poised for a resurgence with PC sales likely to rise. Intel led the winners, rising by 1.32% to $19.79. AT&T was in second place, rising by 1.21% to reach $26.82.
General Electric shares rose by 1.22% to $17.20 after it made a bid for the transmission and distribution unit of Areva SA, a builder of nuclear reactors.
Caterpillar led the losses, down by 0.71% to $53.06 after it announced global machinery sales through retailers fell 48% in the three months to end August, compared with a year ago. It was followed by JP Morgan which dropped 0.88% to $46.06.
In the UK, the FTSE was up by 0.31% (15.99 points) to reach 5158.59 points just after 3.30pm. Burberry led the risers, gaining 4% to reach 508p after bullish comments from its chief executive over luxury goods.
Banking stocks also did well with Standard Chartered up 4.05% to £15.40. However, property companies were hit with Hammerson falling 3.46% to 418p and British Land dropping 4.29% to 491p.
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