2014.09.1722:44:46UTC+00UK stocks on third day drop ahead of Fed meeting, Scotland vote

UK stocks dropped for a third consecutive day as investors look forward to the Federal Reserve’s policy decision and the referendum vote on the independence of Scotland on Thursday.

The FTSE 100 shed 0.2% or 11.34 points to 6,780.9 at the close of trade in London. The gauge gained as much as 0.4% in the trading session before settling. Among the 18 western-European markets, only the FTSE declined. Ireland’s ISEQ climbed 0.3%.

General Trust Plc and Smiths Group Plc plunged by 6.7% and 6% respectively. DS Smith Plc added 5.2%.

The Federal Reserve is scheduled to address investors regarding any changes in the monetary policy at 2:00 pm, Washington time. Federal Reserve Chair Janet Yellen will then hold a press conference at 2:30 pm. Forecast tell that the central bank might cut monthly bond purchases by $10 billion to $15 billion. This is to keep in track the program before announcing the its end in October.

UK will be watching the proceedings in Scotland on Thursday’s vote on whether it shall be independent from the country or not. According to polls, those opposed to independence are at 52% while the pro-independence group are at 48%. Undecided voters are still unaccounted for.