Market overview: Stocks end higher ahead of FOMC

1630:Close UK stocks have finished the session higher on traders’ hopes for a more dovish Fed statement this evening. Testing services firm Intertek led gains after analysts at JP Morgan reiterated their ‘overweight’ recommendation on the firm’s stock. TUI Travel was following close behind on the heels of TUI AG shareholders’ decision to vote in favour of a merger between both outfits. That came as the Bank of England reported that mortgages dropped to a 16-month low in September. FTSE 100 up 52 to 6,454.

1600: Some buying interest in Anglo American is being attributed to speculation regarding a possible takeover.

1558: Tesco is advancing despite confirmation from the SFO that the company is indeed to face a criminal probe. The FCA on the other hand has called off its own probe.

1555: Speaking at the annual Oil&Money conference in London OPEC Secretary General Abdullah al-Badri signaled that the cartel is not looking to reduce its current levels of output. He said, "if prices stay at $85, we will see a lot of investment, a lot of oil, going out of the market."

1500: Shares of Barclays are lower ahead of the bank's results due out tomorrow.

1100: Shares in TUI Travel are seeing buying interest after shareholders approved its planned merger with TUI AG.

1016: Did trading in commodities and hedge funds have something to do with StanChart’s poor results out on Tuesday? Yes, answers market strategist Bill Hubard, “and also a ‘few’ wrong trades in/with USD, but commodities was the big loser!!!!”. The lender’s market capitalisation is now 20% below its book value.

0930: UK stocks have started the morning higher led by gains in TUI AG and a motley assortment of commodity-related firms, including Glencore and Randgold Resources. Next is the worst performer on the top flight index in the early going. The fashion firm on Wednesday slashed its full-year sales and profit guidance. The news is also weighing on sector peer Marks&Spencer. Shell Midstream Partners has priced its New York IPO at $23 a share. That was above the marketed range of between $19 to $21 a piece. Trading is due to start today in New York. UK consumer credit grew by £0.9bn in September, slightly more than forecast. FTSE 100 up 28 to 6,430.