Miners weigh down the FTSE as traders eye FOMC announcement

<p>The FTSE 100 is seen up five points, trading at 6529 during the first half hour of the day. Burberry is substantially topping the winners […]</p>

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The FTSE 100 is seen up five points, trading at 6529 during the first half hour of the day. Burberry is substantially topping the winners table, opening up 5.69% after releasing its interim management statement which claimed that the company’s retail sales increased by 21% during the first quarter.

Three of the top five losers this morning are miners, with Randgold Resources down 1.47%, Vedanta down 2.1% and Fresnillo down 3.79%, forcing the mining sector as low as 14486 upon the open – down 158 points.

The Dow Jones was seen trading at 15298 and the Dax at 8063 – both little changed. However the markets are likely to be highly volatile this afternoon as we have the 10-year bond auction from the US at 6pm BST, followed by FOMC meeting minutes at 7pm and Fed Chairman Ben Bernanke making a speech shortly after 9pm.

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