The FTSeurofirst 300 closed 0.4 percent higher at 1,022.99 points. The Dow Jones industrial average fell 2.57 points, to 10,194.29. The Standard & Poor’s 500 Index dropped 4.61 points, to 1,092.17. The Nasdaq Composite Index dived 7.07 points, to 2,203.73. The benchmark Nikkei lost 73.20 points to 10,252.08, its lowest close since Dec. 21. The Topix fell 1% to 907.67.

Yesterday, the International Monetary Fund increased its global growth expectations for 2010 and warned that a removal of stimulus packages was the biggest risk for western economies. Yesterday, analysts at the Congressional Budget Office announced that the US budget deficit for this fiscal year has been revised lower to $1.3 trillion (£806bn) in comparison to an earlier estimate of $1.4 trillion posted in 2009. Yesterday, Greece said that in February it will sell more bonds, after its first debt issue of the year was heavily oversubscribed.

Due for release today is the GBP CBI Realized Sales, USD New Home Sales, USD FOMC Statement, USD Federal Funds Rate, NZD Official Cash Rate and NZD RBNZ Rate Statement.

By Greg Secker