Dow Jones

US stocks opened sharply lower today as investors await a crucial statement from the Federal Reserve which could signal further quantitative easing measures.

The FTSE 100 opened strongly at the start of the week, boosted by Friday's late rally on Wall Street and positive corporate news.

The FTSE 100 opened in positive territory as strong results from majority-nationalised bank RBS crowned off a largely impressive results week for the UK banking sector.

The FTSE fell in early trading in reaction to losses on Wall Street overnight and a weak opening in European markets.

London's top stocks have given up some of yesterday's triple-digit gains in early trading, with the FTSE 100 down 0.72%.

The FTSE 100 has soared 1.98% this morning as HSBC more than doubled pre-tax profit to £7bn.

Banks are once again leading the FTSE 100 gains in early trading, after a number of stocks soared upwards of 10% yesterday on the relaxing of Basel III rules.

Banks pushed the FTSE higher by 0.55% to 5380.35 on news the Basel Committee proposed to water down its capital and liquidity reform package.

The FTSE 100 opened higher, up 0.46% or 24.52 points to 5,337.14, on encouraging news from the oil sector.

The FTSE was down in early morning trading by 21.35 points (0.40%) at 5292.46, as markets remain cautious awaiting the latest UK GDP reading - due at 9:30am - and EU bank stress test results due after close of business today.