Shares end the day down on Fed plans

END-OF-DAY REPORT: Headline shares suffered a reversal of fortunes during the afternoon, ending modestly lower as banks and miners turned negative, investors cautious ahead of the latest US decision on interest rates.

At the close of business, the FTSE100 was down 26.35 points at 5,576.19 with the FTSE250 off 3.12 points at 10,545.07 and the FTSE Smallcaps 17.75 points better at 2,943.19.

NEW YORK

US stocks slightly lower late morning as investors sat on their hands ahead of the Federal Reserve meeting.

LONDON MARKETS

The main market moved slightly lower as the session progressed, investors fretting over record public borrowing in August and nervous ahead of the latest pronouncement on US interest rates.

In the Midlands, eg solutions enjoyed a good day after announcing a £600,000 contract extension , as did aerospace supply group Umeco following the announcement of a new Chinese joint venture.

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