Markets: Greek uncertainty sends FTSE 100 lower on Friday
17:05 - The FTSE 100 (UKX) headed firmly south as the week drew to a close without any sign of a deal between Greece and its creditors.
The blue-chip index closed 61.75 points lower at 5733.45, led lower by miners Antofagasta (ANTO) and Kazakhmys (KAZ).
Next (NXT) retained top stop, up almost 2%.
"[Greek] negotiations are scheduled to drag on over the weekend, leaving markets once again at the mercy of a breakdown in talks. Nonetheless the euro is holding on to most of its gains made over the course of this week, while bond yields for Italy and Spain are back below 6% and 5% respectively, an indication of easing tensions," stated Chris Beauchamp, market analyst at IG Index.
"Markets generally look in better shape than they have done for some time, and many are hopeful of the prospect of future gains," he added.
At a glance...
Commodities
Gold: $1,729.17 
WTI crude oil: $99.95 
Currencies
GBP/USD: 1.5699
GBP/EUR: 1.1992
EUR/USD: 1.3168
All changes from 09:00 GMT.
16:53 - US markets remained jittery as Friday wore on after US growth data fell short of market expectations.
The US economy grew at an annualized rate of 2.8% in the fourth quarter of 2011, less than analysts' expectations of 3%.
"I'm tempted to think that the disappointment is a bit overdone, since the 2.8% figure was still a decent improvement over the third quarter's 1.8%, and next week could see markets push higher again in advance of the non-farms data on Friday," said Chris Beauchamp, market analyst at IG Index.
The Dow Jones plunged 87 points to 12646, while the S&P 500 declined five points to 1313.
However, the Nasdaq climbed up a mild three points to 2808.
16:41 - Engineering data company Aveva (AVV) told investors it remained confident of a successful out-turn for the year, and has seen continued demand for engineering and design systems and good levels of interest in the new engineering tools.
The company said it seen a number of large rental contracts renewed in the period at the same or improved terms compared to the prior year, reflecting the continuing strength of its end-user markets, particularly in oil and gas.
"In the same period we have won enterprise solutions contracts with some strategically important new customers which will add to the backlog heading into 2012-13. We continue to focus on the owner operators and remain confident about the opportunity in this market," the firm stated.
Geographically, Aveva saw the same trends with EMEA and Latin America continuing to perform strongly. "Following the restructuring in China we are seeing increased momentum confirming our positive view about our prospects in this market," it said.
16:23 - Total income for the third quarter was up by 17% for London Stock Exchange Group (LSE) at £196.3 million.
Total income for the first nine months was up 19% at £582.8 million.
"As well as a very positive organic performance, we successfully completed our acquisition of FTSE," commented chief executive Xavier Rolet.
"The new opportunities that come with full control of this high-quality, fast-growing international business are significant, and we look forward to developing these with our customers. Our diversification strategy continues to pay dividends and the breadth and balance of our offering gives our portfolio a good element of natural hedge, making us well placed to drive the ongoing performance of the group."
16:05 - Investec's (INVP) wholly-owned subsidiary, Investec Holdings (Ireland) has bought a majority interest in Neontar Limited.
Neontar owns the NCB Group, one of Ireland's leading corporate finance and wealth and investment firms. Investec Ireland will also make an offer to acquire all of the ordinary shares of Neontar from those shareholders of Neontar who are not party to the share purchase agreement.
The consideration for the shares will be an amount equal to €4.35 million (£3.65 million) plus the net asset value of Neontar as at completion, to be satisfied by Investec Ireland in cash.
15:47 - Marston's (MARS), the operator of over 2,000 pubs and bars across the UK, saw its share price weaken slightly in trading on Friday.
Issuing its interim management statement for the 16 weeks to 21 January, the company confirmed that trading over the Christmas and New Year had been buoyant and operating profits in line with results from the previous year.
James Dawson, analyst at Charles Stanley Research, added that the "strategy remains focused and well executed and we retain our 'buy' recommendation." Charles Stanley Research's recommendation for the stock was unchanged at 'buy'.
15:32 - Ultimate Finance Group (UFG) announced a successful issue of £1 million additional shares in order to strengthen the company's balance sheet and reduce the businesses dependence on debt financing.
The group expects the newly-issued shares to be admitted to trading on AIM at the market open on 30 January.
15:19 - Solo Oil (SOLO) posted a drilling update on the Ntorya-1 exploration well in Tanzania suggesting that the target depth should be reached towards the end of January.
The company estimated that the prospect has a 25% probability of success, with a resource potential of close to 100 million barrels. Shares in Solo Oil moved down slightly by mid-afternoon.
15:00 - The FTSE 100 (UKX) suffered from the jitters after US GDP figures came in lower than expected and no news of a Greek deal were received.
London's leading share index fell 47 points to 5748.
InterContinental Hotels Group (IHG) fell almost 3% as UBS cut its rating, while Next (NXT) was still going strong, up almost 2%.
At a glance...
Commodities
Gold: $1,726.42
WTI crude oil: $99.50
Currencies
GBP/USD: 1.5724
GBP/EUR: 1.1964
EUR/USD: 1.3144
All changes from 09:00 GMT.
14:51 - US markets were mixed at the open on Friday, after US GDP data disappointed.
The US economy grew at an annualized rate of 2.8% in the fourth quarter of 2011, less than analysts' expectations of 3%.
The Dow fell 44 points to 12690, while the S&P 500 slipped three points to 1315.
However, the Nasdaq trudged up three points to 2808.
14:32 - Shares in Irish employment services provider CPL Resources (CPS) softened slightly despite the release of strong-half year trading results.
In the six months to December 31 2011 the group saw an impressive growth in both revenues and profits - up 28% and 27% respectively.
During the period the group also bought back over 6.5 million shares from the market at approximately 250p a share and cancelled them, pushing up earnings per share significantly.
14:15 - Mwana Africa's (MWA) Freda Rebecca gold mine produced 11,573 ounces of gold in the quarter ending 31 December 2011 despite experiencing some "short-term processing issues with the mills".
"These [issues] are to be expected after the commissioning of the second mill and ramp up in production rates. The mine management is focusing on optimising and fine-tuning the production processes," said chief executive Kalaa Mpinga.
Additionally, drilling results from the Zani Kodo gold exploration project indicated "excellent continuity of the broad mineralised zone both at depth and along strike". The company confirmed an update on the Zani resource would be announced shortly."
13:57 - Brightside Group (BRT), the specialist insurance brokerage and financial services firm, edged upwards on the company's post year-end update.
The announcement, which came prior to the release of the full-year results to 31 December 2011, highlighted the resilience of its niche-market business model, with policy sales seeing 30.7% growth during the year despite difficult market conditions.
13:39 - Sylvania Platinum (SLP) confirmed that it had produced 12,090 ounces of platinum from its five processing plants during the second quarter as it announced its quarterly results to 31 December.
The company's operating costs decreased from $524 (£333) an ounce to $499 an ounce due to improved cost management and the weaker rand.
"Even though the rand per ounce revenue received this quarter has continued to decline we are still very pleased to (in these tough times) report a healthy margin, confirming our 'lowest cost per ounce produced' reputation," said chief executive Terry McConnachie.
13:21 - RPC Group (RPC) posted third-quarter sales and pre-tax profits "significantly ahead of the corresponding period last year, due to the inclusion of the Superfos business and increasing like-for-like revenues".
The supplier of rigid plastic packaging told investors that it intended to withdraw from the loss-making market segments of automotive components in Germany and vending cups in Western Europe (excluding the UK). The annual revenue in these segments is circa £16 million.
"The strategic exit through either sale or closure, subject to consultation, is anticipated to be concluded at the latest by the end of 2012. Whilst exceptional costs will be incurred, the associated cash impact is anticipated to be positive," the company said.
13:02 - Bayfield Energy Holdings (BEH) released an operational update on Friday detailing the continuation of its exploratory drilling in Trinidad.
The firm also announced the approval of an application for the Pletmos inshore licence by the South African mineral resources minister and a termination of operations in Russia - leading to a £3.5 million write-down.
12:46 - African Eagle Resources (AFE) has appointed two new independent non-executive directors, Don Newport and Christopher R. Pointon.
The addition of Newport and Pointon "will bring additional expertise in support of the development of its flagship Dutwa Project in Tanzania".
"The announcement this morning follows on the back of a number of recent appointments for the project including the selection of Lycopodium Minerals as the new bankable feasibility study (BFS) engineering contractor, and the selection of SGS Metallurgy in Perth, Western Australia to perform the pilot-scale hydrometallurgical testing programme," noted Matthew McDonald, analyst at Seymour Pierce.
"Though the recent releases are not in themselves price sensitive, they do prove that the company continues to move forward with the development of its 99 million tonne at 0.93% nickel resource and the delivery of the BFS and the associated environmental and social impact assessment around the end of 2012," he added, rating the stock a 'buy'.
12:24 - Shares in Orchid Developments Group (OCH) more than doubled in value as the company confirmed it had received a "preliminary approach" from a third party.
However, the Bulgarian operating group warned that this approach "may or may not lead to an offer for the company being made".
For more, read: Orchid soars on takeover talk.
12:00 - The FTSE 100 (UKX) paused for breath on Friday, after a Fed-inspired rocket in the previous session.
The blue-chip index was down 14 points to 5781, with the biggest faller being BT Group (BT.A). Clothing retailer Next (NXT) was the top performer, up more than 2%.
David Jones, chief market strategist at IG Index, noted that markets were on a bullish footing. "The move to six-month highs by the FTSE 100 this week has got some eyeing up the 6000 level as the next obvious medium-term target, and it doesn’t seem too ambitious over the next couple of months," he said.
Looking ahead, Jones expects the Dow to start around 25 points higher.
At a glance...
Commodities
Gold: $1,722.45
WTI crude oil: $100.35
Currencies
GBP/USD: 1.5713
GBP/EUR: 1.1956
EUR/USD: 1.3142
All changes from 09:00 GMT.
11:35 - After weeks of speculation, Royal Bank of Scotland (RBS) confirmed on Thursday evening that its chief executive officer, Stephen Hester, would receive around £963,000 from a bonus of 3.6 million shares.
With the government holding an 83% stake in the bank, controversy has surrounded the payout during a time of increased austerity.
For more, read: RBS payout sparks public anger.
11:02 - African Barrick Gold (ABG) has announced a fourfold increase in its mineral resource estimate for the Tusker deposit at the Nyanzaga Project in Tanzania.
The new estimates are in excess of four million ounces of gold, compared to the previously declared resource of 313,000 ounces indicated and 650,000 ounces inferred.
Read: African Barrick Gold ups resource estimate, for the full story.
10:37 - Range Resources (RRL) has ramped up its reserves production drilling programme on the Morne Diablo concession in onshore Trinidad.
Initial production testing on the QUN118ST well saw the well producing at a rate of up to 102 barrels of oil per day (bopd) and it has stabilised at approximately 84 bopd.
For the full story, read: Range ramps up Trinidad production.
10:14 - Serco Group (SRP) has signed a contract with the UK Ministry of Defence to provide training and support to the British Army prior to deployment on operations around the world.
The contract, which will start in April 2012, is worth approximately £55 million through to December 2014.
"We are positive over the outlook for Serco and expect the company to achieve at least mid-single-digit organic revenue growth in 2012," said Caroline de La Soujeole, analyst at Seymour Pierce.
"The shares are trading on an undemanding prospective price to earnings ratio of 13.5 times. This is too cheap for a company of Serco's calibre," she added, reiterating her 'buy' recommendation.
09:51 - BP (BP.) is to pay for some, but not all, of oil rig owner Transocean's (RIG) liabilities for the 2010 oil spill in the Gulf of Mexico, a US judge has ruled.
"Under the decision Transocean is, at a minimum, financially responsible for any punitive damages, fines and penalties flowing from its own conduct. Transocean cannot avoid its responsibility for this accident," the ruling stated.
Since the spill, BP has paid more than $7.8 billion (c£4.9 billion) in claims, advances and other payments to individuals, businesses and governments.
09:27 - Department store John Lewis saw a 11.4% year-on-year increase in its sales for the week to 21 January, lifting hopes that consumers may prove more resilient than feared.
However, Howard Archer, chief UK and European economist at IHS Global Insight, stressed concerns remained that consumers were taking advantage of the best of the bargains in the clearance sales.
"Despite now falling back, consumer price inflation (4.2% in December) is currently still running well above earnings growth (1.8% in November) thereby squeezing purchasing power, while consumers are having to contend with high and rising unemployment, elevated debt levels and an extended fiscal squeeze," said Archer.
"Consumer confidence is mired near record low levels, and their willingness to spend is limited."
09:00 - The FTSE 100 (UKX) was falling on Friday as investors remained sceptical about Greece's debt and awaited fourth-quarter GDP figures from the US.
The UK benchmark was 28 points lower at 5767.
Greece and its private creditors said that talks would continue on Friday with the aim of sealing an agreement within a few days. Greece's creditors are demanding that the European Central Bank contributes to a deal to put the country's messy finances back on track.
Imperial Tobacco (IMT) was leading the stocks, up more than 1%, recovering losses incurred the previous day. Shares in InterContinental Hotel Group (IHG) lost more than 2%.
On the AIM front, ImageScan Holdings (IGE) saw its shares lose a third of their value. Totally (TLY) soared up 10%.
No major data is due in the UK on Friday.
US markets
After a rally that saw the Dow reach its highest level since 2008, markets across the Pond dipped into the red as banks tumbled and economic news disappointed.
Sales of new US homes unexpectedly declined in December for the first time in four months, capping the slowest year on record for builders.
On a positive note, US jobless claims remained below the 400,000 mark, while durable goods orders advanced 3% in December.
The Dow closed down 22 points to 12735, while the Nasdaq slipped 13 points to 2805.
A measure of the banks in the S&P 500 fell more than 3%, pulling the index down eight points to close at 1318.
Looking ahead, US growth figures are out at 13:30 GMT. A Reuters poll showed economists are estimating that the world's largest economy grew at a 3% annual rate between October and December.
Additionally, the January Reuters/University of Michigan consumer sentiment survey is due to be published at 14:55 GMT.
At a glance...
Asian markets
Nikkei 225: 8841 ( eight)
Hang Seng: 20502 ( 63)
Shanghai Composite: closed
Commodities
Gold: $1,771.52
WTI crude oil: $99.70
Currencies
GBP/USD: 1.5683
GBP/EUR: 1.1983
EUR/USD: 1.3088
08:00 - The FTSE 100 (UKX) opens at 5795.20.
