London pre-open: Calm session expected ahead of Wednesday's FOMC decision

London's blue chips are set for a reversal of Monday's losses, with a degree of calmness expected in markets ahead of Wednesday's Federal Open Market Committee (FOMC) meeting.City sources predict the FTSE 100 will open around 32 points higher than Monday's close of 6,363.46."It's been a very calm start to the week in the financial markets, especially by recent standards, driven largely by the lack of economic data and corporate earnings, and the Fed's latest policy decision on Wednesday," observed Alpari UK market analyst Craig Erlam, who anticipates another calm session on Tuesday given the lack of catalysts on the economic calendar.However, it will be worth watching out for the US September figure for core durable orders, as well as for a reading on consumer confidence. Both are predicted to show an improvement.All eyes on the FOMCAlthough Wednesday's Fed decision will be closely watched, the details of the deliberations are likely to be limited as it will not be followed by a press conference."There will be a statement released alongside the announcement, but I think the FOMC would rather save any big announcements for those meetings when they can explain themselves, the next one of which is in December," continued Erlam."With this in mind, I expect them to do as the markets are expecting and bring an end to the quantitative easing programme with the final $15bn taper and leave the statement largely unchanged, maintaining its commitment to keep rates low for a considerable amount of time."Back on this side of the Pond, Tuesday's company news revealed that BP's third-quarter profits fell by almost a fifth, but still beat the market's expectations as it said it was "well on track" to hit its targets this year. Underlying replacement cost profit for the three months to 30 September totalled $3.04bn, down 18% on the $3.69bn earned in the same period last year. Analysts had pencilled in a figure closer to $2.93bn.Underlying profits were higher than expected at Lloyds Banking Group in the third quarter as it confirmed plans to cut 9,000 jobs and close 200 branches over the next three years. The bank confirmed it was in ongoing discussions with the Bank of England's Prudential Regulation Authority (PRA) regarding the resumption of dividend payments, but the payout is thought to be largely dependent on the PRA's forthcoming stress tests, the results of which are due on 16 December.Asia-focused lender Standard Chartered saw operating income rise by 1% in the third quarter. However, a 4.1% increase in expenses pushed operating profits lower to $1.99bn. Further weighing on the lender's results, impairment losses on loans and other credit provisions rose by 86% to $536m.