Traders anticipate Fed meeting
The FTSE is set to finish in positive territory for the first time in four days, as the market catches its breath before we face the music next week. Stocks are a touch higher but traders haven’t taken their eyes off the ball because the Federal Reserve meeting on Wednesday is at the forefront of their minds.
Bellway’s share price was given a boost by its upbeat trading statement; the government's Help to Buy scheme has helped the homebuilder bump up its order book.
Just as the Irish government is exiting the bailout programme, Simon Lee is bailing out of RSA Insurance due to irregularities at its Irish unit.
Bargain hunting in US
In the US the Dow Jones is up five points at 15,743, as bargain hunting sets in after three days of consecutive losses. Tapering is the talk of the town; Wednesday’s meeting will be the last one Ben Bernanke will deliver and the encouraging signs from the US economy point to a trimming of the quantitative easing programme.
Crude at nine-day low
Crude oil has jumped from the frying pan into the fire; oil hit a nine-day low yesterday and is extending its losses today as volatility spikes.
RBA seeks weaker Aussie
The Australian dollar has spent another day under the $0.9 level, after Glenn Stevens of the RBA stated he would like to see a weaker Aussie in order to increase exports.