1630:The FTSE 100 finished down 70.12 points to 6412.93 as a slump in Brent crude futures dragged oil company stocks lower including BP and Royal Dutch Shell. The price of oil dropped after the UK parliament voted against supporting US-led military action in Syria. The US is set to launch a strike against Syrian President Bashar al-Assad's government for an apparent chemical weapons attack on civilians last week. The US has been trying to rally up international backers and has managed to gain the support of France. Any military action will, however, be held off at least until United Nations investigators report back after leaving Syria on Saturday.
1550The MNI Chicago Business Barometer, made of of production, new orders, order backlogs, employment and supplier deliveries indicators, increased to 53 in August from 52.3 in July. The reading was in line with expectations and surpassed the 50 level that signals expansion. The report said the index was led by an increase in new orders and a second monthly gain in order backlogs.
1500:US consumer confidence increased in August, the final reading of the University of Michigan's report revealed. The headline index climbed to 82.1 from an initial reading of 80, beating forecasts for a reading of 80.5.Inflation expectations also declined in the August report.
1330:Consumer spending in the US rose in July for a third month thanks to higher incomes, the Commerce Department revealed. Consumer purchases climbed 0.1 per cent after a revised 0.6 per cent in the prior month, as incomes increased 0.1 per cent. Economists had forecast a 0.3 per cent rise in consumer purchases, which account for about 70 per cent of the economy.
1217: Markets are still in the red despite US stock futures pointing to a firm start on Wall Street when the opening bell rings in just over two hours' time. Nervousness in London ahead of a three-day weekend in the States was also said to be having an effect on risk appetite this morning with US markets closed on Monday for Labour Day. Market Analyst Craig Erlam from Alpari said that he expects investors to 'err on the side of caution' today as any escalation over tensions between Syria and the West ' would undoubtedly have a major impact on the markets when they reopen next week '. The FTSE 100 is down 30.56 at 6,452.49
1205: A "robust response" to the alleged use of chemical weapons in Syria is needed despite UK military involvement being ruled out, the Prime Minister has said, the British Broadcasting Corporation reports.
1128: Despite September normally being the worst month of the year for equity performance, we remain overweight equities, with a 2013 year-end target of 1,730 on the S and P 500 (and 1,900 for 2014). We think higher bond yields present a headwind for equities once they rise above 3.25-3.5 per cent. Amongst the reasons cited for their optimism are the clear signals of a switch towards equities from bonds. FTSE 100 down 30 to 6,454.
1118: Reports indicate that the French Prime Minister has said that his country can take part in any action in Syria without Britain.
1043: Burberry shares
are near the top of the leaderboard on positive sentiment in the aftermath of better than expected interim earnings figures out of French luxury group Hermes.
1000: Eurozone consumer prices advanced at a 1.3 per cent year-on-year pace in August (Consensus: 1.4 per cent), after a rise of 1.6 per cent in July. Unemployment in the single currency area was steady in that same month, at 12.1 per cent. The European Commission's business climate indicator for the area improved to -0.21 from -0.52 in July (Consensus: -0.36). The assessment of past production, the level of overall order books and production expectations improved sharply. Also the level of export order books and the stocks of finished products were appraised more positively. FTSE 100 down 25 to 6,458.
0937: 'It's absolutely imperative that the uncertainty around RBS is dissipated, absolutely imperative,' Carney told the Daily Mail in an interview. His comments suggest that he would have much preferred to see the big decisions about RBS taken much earlier, the newspaper explains. FTSE 100 down 32 to 6,451.
0930: Net lending secured on dwellings rose by 0.7bn pounds in July (Consensus: 1.1bn). Meantime, mortgage approvals rose to 60,600 (Consensus: 58,800), from 58,200. Money supply (M4) expanded at a 0.6 per cent month-on-month clip in that same month, versus forecasts for an increase of 1.1bn.
0850: UK stocks have slipped at the start of trading, ahead of the release of a small barrage of data Stateside this afternoon as investors ponder the implications of the House of Commons' rejection - at least for now - of military action by Britain, in Syria. The US, however, has not ruled out the possibility of going it alone, reports indicate. Of interest, according to Barclays the general public's expectations of inflation ticked upwards in the three months to August. Net mortgage lending data will be published at 09:30. ARM Holdings is in the lead at the moment on the Footsie after analysts at Deutsche bank upgraded their view on the shares to buy. To be taken into account, we are heading into a long weekend in the United States. Hence, traders can be expected to be squaring their positions if they have not done so already and trading volumes will be further reduced, which may exaggerate market movements. FTSE 100 down 30 to 6,453.