1630: Close It proved to be a turbulent session for London-listed stocks, with the top tier index ultimately closing barely in positive territory as it struggled to regain losses that came at the opening of US markets this afternoon. The upside was led by the LSE and housebuilders, but gains were limited by banking heavyweights Barclays and Standard Chartered. UK economic news was notably limited today, with the main focus limited to the BoE's Financial Stability Review, at which Carney announced a series of measures to cool the housing market. Meanwhile, Ofgem said it was planning to refer the energy market for a full competition investigation in an effort to "rebuild consumer trust and provide confidence for investors". The FTSE 100 closed up just 1.5 points at 6,735.12.
1417: Barclays Research has revised its tracking estimate for second quarter GDP growth lower to 2.9% from 4% previously following today's personal income and spending numbers. FTSE down 10 to 6,724.
1332: Initial weekly US unemployment claims ticked lower by 2,000 last week to reach 312,000 (consensus: 310,000). Personal incomes grew by 0.4% month-on-month in May, as forecast by economists. The latest reading on the price deflator for personal consumption expenditures was as expected.
1207: The Iraqi Prime Minister Nouri Maliki has confirmed that air strikes have been carried out by Syrian forces, according to the BBC. The fighter jets on Tuesday dropped bombs on Islamic State of Iraq and the Levant (Isis) militants occupying the town of Qaim, on the Iraqi border with Syria.
1107: Utilities stocks are under pressure on the news that Ofgem has referred the UK energy market for a full competition investigation. Ofgem said that an investigation is "the best way to ensure there are no barriers to effective competition in the energy market", and will help rebuild consumer trust. SSE has erased early gains, while Centrica has dropped into the red.
1034: The housing market is the biggest risk to the economic recovery in Britain, says BoE Governor Mark Carney. He has announced an "affordability test" for new borrowers taking mortgages and placed a cap on the amount that can be borrowed as a ratio of household income. The pound has strengthened against the dollar
on the news, and is up 0.0046 at 1.7031.
0938: StanChart shares
have tanked after a "disappointing" first-half trading update. The company said it faced difficult trading conditions across the global financial markets during the first six months of 2014. While revenues will be down by a "mid single-digit percentage" on last year, operating profits are expected to have fallen 20%. After a flat start, the stock is down 4.1%.The FTSE 100 is now just 0.02% higher, paring earlier gains.
0915: bwin.party has confirmed that it has no plans to break up or sell the company, as has been speculated in recent times. In a brief statement, the digital entertainment group said: "Since his appointment as Chairman last month, Philip Yea has been working with the executive management team on ways in which the group can increase shareholder value, however we can confirm that there are no plans to break-up or sell the company."
0851: As a result of its strategic review Bwin.Party Digital Entertainment is considering a sale, partial or whole, Bloomberg reports citing sources.
0833: UK stocks have begun the session moving slightly higher, buoyed by a jump in shares of LSE as investors seemingly give a 'thumbs-up' to the announcement that it will purchase US investment services firm Frank Russell for $2.7bn. The shares were rising almost 5% in early trading despite the fact that it will carry out a rights issue of $1.6bn to help fund the transaction. Technical resistance beckons at 2,000p. Defensive issues such as British American Tobacco and Imperial Tobacco are moving lower. Barclays is the worst stock on the Footsie at the moment after the lender was hit with a securities fraud suit overnight in the US. FTSE 100 up 8 to 6,741.