Market overview: FTSE closes down five points at 6,440


LONDON (ShareCast) - 1630: Close The FTSE ended the final session of the week just a few points lower than its starting point, with RSA Insurance (LSE: RSA.L - news) providing the biggest drag while Sports Direct (Dusseldorf: ZVX.DU - news) led the upside as it recovered from heavy losses yesterday. In macro news, the ONS reported that UK construction sector's output grew at a 2.2 per cent month-on-month pace in October, while the BoE (Shenzhen: 000725.SZ - news) 's Chief Economist Spencer Dale said the central bank will not raise interest rates until the UK has experienced an extended period of growth. Over in the US stock markets are trading in a mixed fashion. The FTSE 100 closed down 5.29 points at 6,439.96.

1523: UK markets have dropped into the red after US stocks quickly erased gains after a firmer stat on Wall Street. Both the Dow Jones and S&P 500 are now, however, extending their one-month lows reached the previous session. The FTSE 100 is down 6.3 points at 6,438.95.

1433: Numis sees a 50 per cent probability of Standard Chartered (HKSE: 2888.HK - news) undertaking a capital raising. They estimate that a nine per cent placing at a 10 per cent discount to current market price would be broadly neutral in terms of tangible net asset value [TNAV].

1432: Numis cuts its price target on Aggreko (LSE: AGK.L - news) to 1,234p from 1,400p.

1431: The Bank of England's Spencer Dale has reportedly indicated that it would only tighten against a far stronger backdrop.

1412: Shares of Blinkx (Other OTC: BLNKF - news) have been added to Goldman Sachs (NYSE: GS-PB - news) ' Conviction Buy list.

1330: US producer prices fell by 0.1 per cent month-on-month in November, as expected by the consensus. FTSE 100 up 2 to 6,447.

1201: Shares of ARM Holdings (LSE: ARM.L - news) are at the top of the leaderboard after a Bloomberg report, which cites a person with knowledge of the matter, that Google (NasdaqGS: GOOG - news) is considering designing its own server processors using the British company's technology. FTSE 100 up 11 to 6,547.

1012: Shares of IAG and easyJet are again doing well today out on the Footsie after IATA yesterday raised its profit forecasts for airlines in 2013 and 2014. Goldman Sachs upgraded IAG to neutral from sell.

0930: Output in the UK's construction sector is now estimated to have expanded at a rate of 2.6 per cent in quarter three, well ahead of the 1.7 per cent quarterly pace of expansion incorporated into the last estimate of GDP growth from ONS. FTSE 100 down 1 to 6,444.

0835: The FTSE 100 inched lower this morning as the market opened for what is expected to be a quiet session. The downside was being led by RSA Insurance which lowered its 2013 earnings forecast and announced the resignation of Group CEO Simon Lee with immediate effect. Astrazeneca (NYSE: AZN - news) was rising strongly after its diabetes drug won approval from an FDA advisory committee. Over in the States, the House in Washington last night passed the budget deal by a wide margin to avoid a government shutdown next month and ease spending cuts over the next two years. The FTSE 100 is down 2.68 points at 6,442.57.

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