After a late dive the top share index finished deep firmly in the red, reversing strong gains after some weak economic data from the US.

The Institute of Supply Management´s (ISM) purchasing managers´ index for the manufacturing sector fell to 50.9 points in July, from 55.3 the month before. That data, which followed even more disappointing numbers from the UK earlier on, put paid to earlier optimism following the US debt saga apparently nearing a resolution. President Barack Obama and congressional leaders agreed on a deal to put before Congress that will cut an initial $1trn from federal government deficit expenditure, growing to more than $2trn over 10 years.

Among today's risers was HSBC. The banking giant unveiled a rise in profits and announced plans to cut up to 30,000 jobs. Pre-tax profits for the half year climbed by 3% from the same period the previous year, with strong performances from the retail banking and wealth management divisions, which benefited from fewer impairments, driving profits higher.

Testing and inspections firm Intertek went well after revenue in the first half of 2011 rose 17%. "Our businesses continue to perform well overall, with strength in some areas offsetting slower growth in others," said Wolfhart Hauser, chief executive of Intertek.

Net rental income at retail-focused real estate group Hammerson came in 2.8% higher, +3.9% on a like-for-like basis, driven by lettings and rent reviews in the UK and indexation in France. Hammerson also held onto some of the gains it posted in earlier trading.

In the FTSE 250, Punch Taverns slumped after the completion of the demerger of its 'Spirit' business to Spirit Pub Company.

Outsourcing behemoth Serco has signed a new hospital services contract, worth A$1.3bn (£850m), in Australia.

Cooper Industries, the US manufacturer of electrical products, has said it will not be launching a bid for UK counterpart Laird, as it had not been able to look at Laird's books. 'Offer 220p per share and we can start talking,' was the message Laird sent out to Cooper Industries last week, but the US company rejected the proposal.

The Real Good Food Company left a bad taste in its shareholders' mouths after disappointing with its half year results. Despite boasting improved year-on-year performance with increased volumes in sugar, dairy and bakery ingredients, the company behind the Whitworth brand has had to tackle difficulties in the sugar supply chain, where prices remain high and material in short supply.

Shares in Arena Leisure raced ahead after the racecourse operator lured in more punters in the six months to 30 June, though pre-tax profits were lower due to reduced revenues from levies from bookmakers. Pre-tax profits were down to £1.4m from £2m over the same period the previous year. Excluding levy income, revenues were up by £3m at £22.5m, but including levy income were down by £1.9m to £28.2m.

FTSE 100 - Risers
Intertek Group (ITRK) 1,990.00p +3.92%
HSBC Holdings (HSBA) 607.50p +2.19%
Hargreaves Lansdown (HL.) 580.00p +1.75%
Hammerson (HMSO) 472.50p +1.44%
GKN (GKN) 227.70p +1.34%
Tullow Oil (TLW) 1,244.00p +1.14%
Capita Group (CPI) 722.00p +0.56%
Pearson (PSON) 1,180.00p +0.51%
Schroders (SDR) 1,635.00p +0.43%
Whitbread (WTB) 1,561.00p +0.32%

FTSE 100 - Fallers
Lloyds Banking Group (LLOY) 41.19p -4.98%
Royal Bank of Scotland Group (RBS) 34.15p -4.31%
Wolseley (WOS) 1,745.00p -3.86%
International Consolidated Airlines Group SA (IAG) 229.70p -3.20%
Smiths Group (SMIN) 1,099.00p -3.17%
BAE Systems (BA.) 295.00p -2.96%
Vedanta Resources (VED) 1,720.00p -2.82%
Reed Elsevier (REL) 538.50p -2.80%
Barclays (BARC) 217.00p -2.69%
Kazakhmys (KAZ) 1,313.00p -2.60%

FTSE 250 - Risers
SVG Capital (SVI) 271.00p +2.89%
St. Modwen Properties (SMP) 177.50p +2.54%
JPMorgan Russian Securities (JRS) 663.00p +2.47%
UK Commercial Property Trust (UKCM) 81.25p +2.46%
JPMorgan Asian Inv Trust (JAI) 239.30p +2.18%
London & Stamford Property Ltd. (LSP) 129.00p +1.74%
Premier Oil (PMO) 413.00p +1.72%
Filtrona PLC (FLTR) 347.10p +1.67%
F&C Commercial Property Trust Ltd. (FCPT) 105.30p +1.64%
St James's Place (STJ) 376.00p +1.62%

FTSE 250 - Fallers
Punch Taverns (PUB) 13.00p -79.54%
Laird (LRD) 159.80p -14.86%
Kofax (KFX) 333.00p -8.01%
Ocado Group (OCDO) 158.60p -6.87%
SIG (SHI) 119.90p -6.47%
Barratt Developments (BDEV) 93.00p -5.58%
Fidessa Group (FDSA) 1,737.00p -5.39%
Premier Foods (PFD) 17.19p -5.34%
African Barrick Gold (ABG) 500.50p -5.30%
Travis Perkins (TPK) 837.00p -5.26%

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BHP Billiton (BLT) share price
HSBC Holdings (HSBA) share price
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Hammerson (HMSO) share price
Laird (LRD) share price
Serco Group (SRP) share price
Antofagasta (ANTO) share price
Arena Leisure (ARE) share price
Intertek Group (ITRK) share price
The Real Good Food Company (RGD) share price
Vedanta Resources (VED) share price
Kazakhmys (KAZ) share price
Essar Energy (ESSR) share price