StockMarketWire.com - UK stocks opened modestly lower on Wednesday as investors held out for a key US interest rate decision due later in the day.

At 0850, the FTSE 100 was down 10.03 points, or 0.1%, at 7.433.01.

Premier Inn hotel chain owner Whitbread shed 1.0% on the back of a 1.0% decline in first-quarter sales, pinned on weak trading conditions in the UK accommodation sector.

High-end house builder Berkeley rose 0.4% as a fall in annual profit nevertheless met the top end of market expectations.

AstraZeneca fell 0.3% despite after Japnese regulators approving separate treatments for lung disease and overarian cancer.

Over 50's services group Saga sank 10% on revealing that its tour operations business had been hurt by Brexit uncertainty.

Luxury handbag maker Mulberry fell 0.9% after it swung to a full-year loss, owning to lower sales in the UK.

Structural steel group Severfield added 1.1% as it booked an 11% rise in annual profit underpinned by higher margins.

Myanmar Investments International shed 2.9% after it announced that a number of its substantial shareholders had backed its decision to reject a takeover proposal from Myanmar Strategic Holdings.

Vehicle tracking systems supplier Quartix gained 8.2% on announcing that it expected to 'at least' meet market expectations for its full-year earnings and cash flow. Story provided by StockMarketWire.com