19 June 2013 Last updated at 12:51 Continue reading the main story Continue reading the main story Last Updated at 19 Jun 2013, 13:16 *Chart shows local time Tesco United Utilities Group (Noon): Shares remained lower in lunchtime trade as investors remained cautious ahead of the outcome of the latest US central bank meeting. Investors will examine comments from the US Federal Reserve for any indication as to when it will start to wind down its bond buying programme. Worries that the Fed might start to scale back its stimulus programme has hit shares in recent weeks. The FTSE 100 index was down 38.47 points, or 0.6%, at 6,335.74. Shares in BT fell 3.2% after the telecoms firm announced that chief executive Ian Livingston would stand down in September to become a government trade minister. Mr Livingston will be replaced by the head of BT Retail, Gavin Patterson. Shares in Berkeley rose 2.6% after the housebuilder reported a 26% rise in full year profits to £270.7m. Sports wear retailer JD Sports fell 0.5% after it issued its latest trading update. The company said its Blacks and Millets outlets were set to record another "substantial" loss after margins were cut in order to drive sales. United Utilities fell 3.7% and Severn Trent dropped 2.9% after the shares of both firms began trading without the right to the latest dividend. On the currency markets, the pound slipped back slightly against the dollar to $1.5638, and fell 0.1% against the euro to 1.1675 euros.