Around the World's Markets: London

THE market was cautious ahead of the US interest rates decision, with Footsie making a 15.2-points gain to 5,108.7 after dipping more than 50 in early trading. For small cap shares it was another disastrous session, with the FTSE small cap index falling 6.7 to 1,995.9 - the first time it has dipped below 2,000 since January, 1996.

Diageo, the spirits giant, was the best performing Footsie constituent. Interest rate considerations lifted the shares 48.5p to 547p.

Derek Pain, page 20