Tuesday, June 2
Jeremy Batstone at Nat West Securities.

Caution dominated sentiment in the UK's financial markets today. The index of leading 100 companies struggled to move into positive territory, ultimately rising just 4.4 points at 5842.

The mood of torpor, reflecting uncertain overseas markets, spread over into medium and smaller companies, neither index could work up much enthusiasm, and ultimately closed little changed.

Market professionals are holding fire ahead of the Monetary Policy Committee's meeting on Wednesday. Base rates are not expected to be altered when the announcement is made at midday on Thursday. Asset prices, the so-called 'hawks' latest bug-bear, have settled back after strong growth earlier in the year.

In the corporate sector Nycomed Amersham buoyed by broker recommendations rose by 5.5%, and National Grid made progress in the wake of good figures.