Thomas Costerg, senior US economist at Pictet Wealth Management, said: “The Fed is likely to signal it continues to have its finger on the trigger — that it stands ready to ease policy more if necessary."

Robert Rennie, global head of market strategy at Westpac added: “Anyone involved in the physical market would be aware of the fact that at the dealer level, access, particularly to gold and silver coins, has been curtailed as a result of the virus."

Wall Street’s S&P 500 to rise 0.4 percent when trading begins later in the global day, after rising by 0.7 per cent overnight.

London’s FTSE 100 jumped on opening today before shortly dropping into the red.

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2.45pm update: The FTSE-100 is up 0.71 at 6105.59

2.35pm update: Wall Street opens on lows

Wall Street's main indexes opened lower as lawmakers geared up for gruelling talks over a coronavirus relief deal, with investors also weighing a mixed batch of earnings reports from blue-chip companies.

The Dow Jones Industrial Average fell 55.32 points, or 0.21%, at the open to 26,529.45. The S&P 500 opened lower by 5.14 points, or 0.16%, at 3,234.27, while the Nasdaq Composite dropped 27.07 points, or 0.26%, to 10,509.20 at the opening bell.

2.25pm update: Greggs sales almost recovered to breakeven levels

Greggs said it plunged into the red in the first half of the year after having to close more than 2,000 stores for most of the second quarter due to the lockdown.

Shops had re-opened by July and offered a limited range of its best-sellers to takeaway customers.

Sales at company-managed stores stood at 72 percent of 2019 levels in the most recent week.

Greggs, which scored a hit last year with a vegan sausage roll followed by other vegan snacks, said it could break even when sales reach about 80 percent of last year's level.

CEO Roger Whiteside said Greggs had made a great start to 2020 before the pandemic hit. It has now brought about 75 percent of staff back to work.

He added: “Greggs is now well prepared to deal with the challenges of social distancing and operate through the conditions we are faced with.”

However shares in Greggs have fallen 6 perdent on the day to 1,369 pence.

The health crisis pushed Greggs to a pretax loss of £65.2million pounds for the six months to June 27, against a profit of £36.7million pounds a year earlier.

1.45pm update: The FTSE-100 index is up 0.01 at 6104.89

12.45pm update: The FTSE-100 index is down 9.46 at 6095.42

12.00pm update: Germany's 10-year bond yields had their biggest fall in over a month

Germany's 10-year bond yields had their biggest fall in over a month on Monday as US.-China relations deteriorated sharply.

The benchmark Bund yield was broadly flat edging at -0.491% by midday today.

Core other eurozone government bond yields were steady.

Rabobank strategist Matthew Cairns said: ”Part of what appears to be driving that is the fact that we've got a bunch of headlines now suggesting that there is a second wave starting to gather momentum in Spain.

"Obviously, this does not bode well for the economic fortunes of an economy that was really hoping to eke out something positive of what remains of the all-important tourism season.”

11.45am update: The FTSE-100 index is down 4.62 at 6100.26

11.20am update: FTSE dips after positive start

Despite a bright start, FTSE has plunged to below yesterday's close.

The index closed at 6,104 yesterday before rising to 6,149 early this morning.

However, it has now dropped to 6,085, wiping out the day's gains.

10.15am update: Good open for EU markets

Along with FTSE, the Euronext 100, DAX and Swiss Market Index have all opened strongly this morning.

Euronext is up 0.12%, DAX 0.45% and Swiss Market 0.39%.

CAC 40 is down 0.10%.

FTSE continues to enjoy a bright morning and is now up 0.46% on the day.

8.30am update: FTSE jumps on open

The FTSE 100 has enjoyed a bright start to the day, jumping 27 points.

The index, which closed yesterday on 6,104, has risen to 6,131 early this morning.

It reverses a trend of poor starts over the past several days.

6.17am update: China's new green development fund raises $12 billion in phase 1

China’s first dedicated environmental fund, which will invest in green projects and firms, has already raised 88 billion yuan ($12.59 billion) in its first phase, an environment ministry official said at a briefing on Tuesday.

The National Green Development Fund will mainly be used to invest in national strategic programmes such as the green development of the Yangtze river region, said Zou Shoumin, a director responsible for finance at China’s Ministry of Ecology and Environment (MEE).

The fund was formally launched on July 15 by the MEE, the Ministry of Finance and the Shanghai city government.

It is designed to support the “green transformation” of the Chinese economy and strengthen the role of the market in fighting pollution, environment minister Huang Runqiu said at the fund’s launch ceremony.