1630: Close The FTSE has had a volatile day of trading, propped up by miners, which were boosted by the upbeat economic data out from China overnight. ARM was also a strong riser, boosted by yesterday's better-than-expected results. Banks took a hit on news of Sir Mervyn King's, the outgoing Governor of the Bank of England, warned of further banking losses, saying they were "inevitable". The US market was off to a decent start, recovering some of yesterday's hefty losses. The FTSE closed up 7 points at 5,805.
1600: With just half an hour to go before the close, the FTSE 100 looks set to finish in positive territory after a volatile day's trade. ARM leads the gains and is up 6.1 per cent, closely followed by mining stocks. Reckitt Benckiser is gaining after its third-quarter results. Analyst Martin Deboo from Investec said: 'We read the Q3 as a material beat to consensus, with LFL growth in the quarter of 5 per cent relative to our and consensus expectations of 3-4 per cent. The key area of beat was in the Europe North America (ENA) region, which suggests to us that CEO Rakesh Kapoor's initiatives are beginning to bear fruit in RB's most challenging region.' FTSE 100 is up 17 at 5,815.
1444: Ford has announced that it is planning to close one of its main factories in Europe, resulting in the loss of upwards of 9,000 jobs. Following a decline in sales, the company has decided to close its Belgium factory as part of a wider restructuring programme. The FTSE is up 19 at 5,816.
1325: Miners are doing a good job of propping up the FTSE, boosted by the upbeat economic data out from China overnight. Kazakhmys was the biggest of the sector's risers, up 2.77 per cent. Michael Hewson, Senior Markets Analyst at CMC Markets, was quoted by Reuters as saying: "All you're doing is getting a bit of an adjustment after yesterday's sharp move lower. China data has been a little bit supportive. I don't think China is going to get the global economy out of the rut that it's in, but what it might do is prompt a little bit of caution about selling." It was also reported today that four Lonmin workers have been arrested in connection with the killings that occurred at the company's Marikana mines earlier this year. FTSE up 14 points at 5,812.
1233: Shares in household products and personal care behemoth Reckitt Benckiser jumped after it produced solid results for the third quarter, with like-for-like net revenue growth of four per cent at constant exchange rates
driven by strong growth in emerging markets. It also said it will meet growth expectations. Footsie up 11 points at 5,809.
1017: The Footsie is flat at 5,797 as better-than-expected data from China is met with some disappointing economic figures from the Eurozone. Markit's Eurozone composite PMI declined to a 40-month low of 45.8 in October from 46.1 the month before, missing expectations of a slight gain to 46.5. Meanwhile, the German IFO business climate survey fell from 101.4 to 100, missing the 101.6 estimate.
0937: After a decent start, stocks slipped into the red as corporate earnings concerns continue to dampen sentiment. The FTSE 100 is down two points at 5,796. 'Overall short-term sentiment remains negative, further losses today would be considered especially damaging as many indices are near the lower band of the most recent trading range, if these major supports are being broken more losses in the next few days are likely with a change in the overall positive trend possible,' said Markus Huber, the head of German HNW Trading at ETX Capital. While the blue-chip miners are in demand on the Footsie, British American Tobacco and InterContinental Hotels have both disappointed this morning with their third-quarter updates, providing a drag in London. Meanwhile, Experian and WPP have been weighed down by broker downgrades, by Jefferies and UBS, respectively.
0820: The FTSE has edged higher in opening trading as investors balance stronger-than-expected manufacturing data from China with the huge losses seen in the US - particularly on the Dow Jones - last night. HSBC's preliminary manufacturing PMI climbed from 47.9 in September to 49.1 for October, just short of 50, the mark at which expansion is indicated. US stocks were hit by poorer-than-expected earnings and ongoing concern over Spain and the wider economy. In UK company news, shares
in chip designer ARM Holdings continued to rise after the company yesterday beat forecasts in the third quarter and gave a confident outlook for the rest of the year. The FTSE is up 10 points at 5,808.