Around the World's Markets: London

BLUE CHIPS failed to hold early gains as the market dithered ahead of the US interest-rate decision. Footsie fell 7.8 points to 5,502.7 after at one point scoring a 51.9 gain. Supporting shares also gave ground.

GRE insurance group was the outstanding Footsie constituent, gaining 18.5p to 293.5p following The Independent's story of a possible bid from AXA/UAP of France. Sun Life & Provincial, the AXA vehicle which could be used to mount the bid, fell 22p to 500p.