29/01/14 Market Movements

The FTSE 100 fell by 28.05 points today to close at 6,544.28 as investors remained cautious amidst concerns of further tapering of the US Monetary stimulus programme.

The US Federal Reserve concludes its two day meeting this evening and it is widely expected to announce a further $10billion of cuts to its monthly bond-buying program. The announcement is due at 14.00 EST (19.00 GMT)

The pending announcement has already pressed India, Turkey & South Africa to raise interest rates in a last ditch attempt to save their declining currencies and stem further capital outflows.

Stock movements
CAT stock is currently  down 1.52% at $91.07.

Heritage oil climbed 3.85% to close at 189p – 3.1% short of its 195p TSP.