1630: Close After spending a large part of today's session in the red, the FTSE ultimately closed in positive territory, boosted in part by gains on the Dow Jones index, as well as the news the US has postponed a vote on whether to launch a military strike against Syria. Today saw the UK unemployment rate fall to 7.7 per cent in the three months through July from 7.8 per cent in the previous quarter, according to the ONS. In company news, ARM was the day's biggest riser (see below), while a number of stocks weighed the index down after going ex-dividend. The FTSE closed up four points at 6,588.
1520: At least three of Wall Street's largest brokers: UBS, Credit Suisse and Bank of America-Merrill Lynch have today downgraded their view on the shares
of Apple. For the latter of these brokers two of the reasons to proceed in the above fashion were the lack of a "lower-end" iPhone and price points that will be too high to increase penetration in emerging markets, as well as the lack of an agreement with China Mobile. Apple stock is now dropping by 6 per cent. FTSE 100 down 12 to 6,572.
1400: US stocks are expected to open mixed today, with the Dow Jones creeping higher while the NASDAQ and S&P are set to move lower. Meanwhile, the FTSE has continued to sit six-eight points below its opening level, with markets rangebound after yesterday hitting a four-week high. In company news, Rolls-Royce announced that it has been chosen by the Royal Navy to design the power turbine system for its new combat ship. The FTSE is at 6,576.
1223: The FTSE 100 is continuing to swing between gains and losses today, with just 17 points separating its intraday low (6,567) and high (6,584). This comes after London's benchmark index finished Tuesday's session at 6,583.99 - this was its highest closing price since August 14th when it ended the day at 6,587.43. ARM is still leading the risers on the blue-chip index after Apple's iPhone launch. Glencore Xstrata isn't far behind as it continues to perform well after yesterday raising its target for expected synergies post-merger and cutting capex guidance. Deutsche Bank, JPMorgan and Jefferies all raised their target price for the stock this morning with the latter saying that it remains 'one of our top picks'. The FTSE 100 is down 9.19 points at 6,574.80.
1055: ARM shares are sitting in the top spot of the FTSE, boosted by the unveiling of two new iPhones by its partner, Apple. The phones use a new 64-bit processor, which a number of analysts believe will equate to an increased royalty rate to ARM than the 32-bit previously used. FTSE down five points at 6,579.
1020: Business Secretary Vince Cable warned Chancellor George Osborne that ministers "can't rest on our laurels". Cable's downbeat outlook contrasts with recent comments from the Chancellor that the UK economy has "turned a corner". Cable is expected to say in a speech this evening that several quarters showing good economic data does not equal the beginning of the end of the country's economic challenges.
1010: Serco Group, which at the end of August was forced to call police after discovering the misreporting of data by 'a small number of employees', said just now that its review programme of its MoJ Prisoner Escort and Custody Services contract was now underway. FTSE is down five points at 6,578.
0930: The UK unemployment rate slipped to 7.7 per cent in July, from 7.8 per cent in the month before [Consensus: 7.8 per cent]. UK claimant count fell by 32,600 in August [Consensus: -21,000].
0830: The FTSE edged lower in opening trade, led by Admiral after the stock went ex-dividend. Hargreaves Lansdown and G4S were also top fallers for the same reason, while Kingfisher dropped after posting a dip in first-half profits. Across the Atlantic, last night US President Barack Obama asked Congress to delay a vote on military intervention in Syria in light of recent diplomatic developments. The FTSE is down eight points at 6,576.