FTSE

Shares on the FTSE 100 went lower this morning, sending the index down about 18 points to 4,339.

As markets await an expected 25 basis points increase in core US interest rates later today the FTSE 100 index has slipped about 10 points to 4,501 on corporate newsflow.

Shares are down in the UK and across Europe today as investors brace for tomorrow's expected 0.25% increase in the key US interest rate, sending the FTSE 100 index down about 10 points to 4,508.

Equal numbers of shares are up and down this morning, but weightings of individual companies within the FTSE 100 have helped the index to a 2 points rise to 4,496.

Shares in mining companies made gains on new contracts with China and Chilean government attempts to limit extraction royalty payments, helping send the FTSE 100 index up 16.50 points to 4,503.20 by the close.

Confirmed multi-billion dollar orders for telecoms technology in the US flowed through to Europe this afternoon, helping push the FTSE 100 index up 18.20 points to 4,486.70 by the close.

Picking up where it left off yesterday afternoon the FTSE 100 index of leading UK companies is down about 24 points to 4,478.

Despite warnings of a slump in house prices from the Bank of England and new inflation figures published by the government, investors have pushed the FTSE up about 11 points to 4,444.

Although the market took today's interest rate hike in its stride - there were no nasty surprises - certain fears about prices relative to earnings potential helped the FTSE 100 index to a mild 3.40 points loss at 4,486.10.

With the market waiting for a decision on interest rates from the Bank of England, shares have drifted lower, cutting the FTSE by about 7 points to 4,481.