London midday: UK stocks back in the red ahead of Fed meeting

UK stocks were back in the red on Wednesday after their first gain in seven days the previous session, with investors scaling back risk appetite ahead of a number of risk events.Along with a host of economic data due out during the session, markets were keeping an eye out for minutes for the latest Bank of England (BoE) meeting, a presidency vote in Greece and the Federal Reserve policy decision.The FTSE 100 was down 0.7% at 6,285 by midday. It had jumped 2.4% the previous session, snapping a six-day losing streak.Upbeat economic data from the UK did not have much impact on markets early on. The UK unemployment rate declined to 6% between August and October from 6.2% the preceding three months, while weekly average wage inflation picked up to 1.4% year-on-year from 1% previously.Minutes from the BoE's Monetary Policy Committee meeting this month showed that members voted seven-to-two for the fifth month in a row in favour of keeping the Bank Rate at 0.5%.The main event on Wednesday will likely be the result of the two-day Federal Open Market Committee (FOMC) meeting due out after European markets have closed.Investors will be watching closely to see whether policymakers have adjusted the phrase "considerable time" when giving their forward guidance on the first interest-rate rise."The FOMC is believed to be considering removing it this month in a move that would clearly signal an imminent rate hike to the markets. I expect plenty of volatility around this event whatever they do," said analyst Craig Erlam from Alpari.Dixons Carphone jumps??Electrical retailer Dixons Carphone was in demand after a strong first half in the UK helped group like-for-like revenues rise 5%. However, the company also warned that Dutch and German trading was still tough and said it was launching a review and restructuring.Oil and gas stocks were subdued despite a continued fall in crude prices with West Texas Intermediate firmly again falling below $55 a barrel and Brent firmly under $60 a barrel. Shell was making gains, but Tullow and BP dropped into the red.Mining stocks were also mixed with Rio Tinto and Evraz in demand but Glencore, Anglo American and BHP Billiton falling.Shares in the heavyweight banking sector were weaker, as RBS, Barclays and HSBC declined.Advertising and media giant WPP fell after unveiling a successor to Philip Lader who announced his plan to step down as long-running chairman earlier this year. The company said it has appointed IMI chairman Roberto Quarta as a non-executive director and chairman-designate. Market MoverstechMARK 2,853.27 -0.72%FTSE 100 6,285.43 -0.73%FTSE 250 15,346.86 -0.52%FTSE 100 - RisersDixons Carphone (DC.) 444.10p +4.08%Rio Tinto (RIO) 2,767.00p +1.47%Aberdeen Asset Management (ADN) 409.60p +1.39%Hargreaves Lansdown (HL.) 951.50p +1.22%National Grid (NG.) 886.00p +1.03%Sky (SKY) 883.50p +0.97%Weir Group (WEIR) 1,796.00p +0.79%Antofagasta (ANTO) 705.50p +0.79%Royal Dutch Shell 'B' (RDSB) 2,109.00p +0.72%Royal Dutch Shell 'A' (RDSA) 2,051.00p +0.71%FTSE 100 - FallersMondi (MNDI) 995.00p -4.05%Petrofac Ltd. (PFC) 663.50p -3.56%International Consolidated Airlines Group SA (CDI) (IAG) 448.20p -3.03%Aggreko (AGK) 1,426.00p -2.06%HSBC Holdings (HSBA) 591.60p -1.97%Royal Bank of Scotland Group (RBS) 364.80p -1.94%Barclays (BARC) 225.90p -1.85%G4S (GFS) 267.20p -1.84%British American Tobacco (BATS) 3,355.00p -1.83%Morrison (Wm) Supermarkets (MRW) 166.80p -1.82%FTSE 250 - RisersEvraz (EVR) 125.10p +5.84%Tate & Lyle (TATE) 587.50p +4.26%Catlin Group Ltd. (CGL) 606.50p +4.21%Wood Group (John) (WG.) 600.50p +3.36%Vedanta Resources (VED) 558.50p +2.67%Man Group (EMG) 148.10p +2.35%Ophir Energy (OPHR) 122.30p +2.09%Nostrum Oil & Gas (NOG) 384.80p +2.07%Bank of Georgia Holdings (BGEO) 1,875.00p +2.01%ICAP (IAP) 425.30p +1.62%FTSE 250 - FallersFoxtons Group (FOXT) 154.50p -6.08%Countrywide (CWD) 421.60p -3.74%AO World (AO.) 261.90p -3.71%Infinis Energy (INFI) 211.00p -3.61%Marston's (MARS) 137.70p -3.10%Brown (N.) Group (BWNG) 335.60p -2.81%Essentra (ESNT) 726.50p -2.74%NMC Health (NMC) 457.10p -2.74%Afren (AFR) 35.02p -2.53%Cairn Energy (CNE) 161.60p -2.42%