Markets: FTSE 100 endures unsteady Tuesday
17:05 - The FTSE 100 (UKX) ended the day in the red as a better investor survey from Germany and a reasonable Italian bond auction failed to undo the negative mood set by Moody's.
London's leading benchmark slipped 5.83 points to 5899.87.
Royal Bank of Scotland (RBS) ended the day holding the wooden spoon, with shares closing 5% lower. Bunzl (BNZL) retained the top spot, soaring 4%.
Mike McCudden, head of derivatives at Interactive Investor, warned that any surprises regarding tomorrow's eurozone meeting could easily see the bears back out in force.
"With the FTSE 100 still eyeing that big 6000 level, there's no shortage of voices calling the market overvalued right now," he stressed.
At a glance...
Commodities
Gold: $1,720.94 
WTI crude oil: $101.28
Currencies
GBP/USD: 1.5689 
GBP/EUR: 1.1933
EUR/USD: 1.3149
All changes from 09:00 GMT.
16:50 - Markets across the Pond continued to linger in the doldrums after US retail sales data showed lacklustre growth.
The Commerce Department said retailers' sales rose a seasonally-adjusted 0.4% in January, short of forecasts for a 1% increase.
The Dow fell 18 points to 12856, while the Nasdaq slipped nine points to 2922.
Analysts warned that the S&P 500 has reached a technical hurdle as it declined three points to 1348.
"Hopes now turn to tomorrow's Fed minutes. Recent testimony from Fed chairman Ben Bernanke suggested that those in the know in Washington think the economy is improving, so if the minutes replicate this cautiously optimistic tone, this could yet put some more fight into the bulls."
Chris Beauchamp, market analyst at IG Index.
However, he warned that economic data needed to turn decidedly more positive if stockmarkets were expected to make any decent gains this month.
16:40- Shares in Aurum Mining (AUR) climbed 12% as it confirmed it was one step closer towards earning its majority stake in the Zamora and Salamanca projects in Spain.
Additionally, Aurum said that drilling was now taking place on the fifth and sixth holes of the nine-hole El-Fanco programme in the Zamora gold project.
For more, read: Aurum eyes majority stake in Spanish projects.
16:31 - Brammer (BRAM), the distributor of industrial maintenance and repair products, delighted investors on Tuesday as it revealed a 40% rise in pre-tax profit and plans to raise its dividend by 27.3%.
David Dunn, Brammer's chairman, said the scale of the €40 billion (£33 billion) market it covers offers multiple growth opportunities as the company invests in quality products, people, systems, and marketing.
For the full story, read: Profit and dividend rise after bumper year for Brammer.
16:22 - GeoPark Holdings (GPK) has acquired Winchester Oil & Gas and La Luna Oil Company (Winchester Luna) for $30 million (£19.1 million) in cash, adjusted for working capital.
The acquisition of Winchester Luna provides GeoPark with interests in eight blocks located in the Llanos, Magdalena and Catatumbo basins in Colombia, appointing it licensed operator in two of the blocks.
"We believe the Winchester Luna asset mix and its active current drilling programme provide the opportunity for GeoPark to grow and add value through both the drill bit and additional acquisitions in the short and intermediate term," said chief executive James Park.
16:13 - ValiRx (VAL) has established a Scientific Advisory Board (SAB) consisting of Hilary Calvert, Richard Harbottle and Jean-Frédéric Sauniere.
The SAB will advise and assist the company as it looks to further develop its technologies and products in oncology therapeutics and diagnostics.
"The establishment of a Scientific Advisory Board and the appointment to it of such internationally eminent scientists and cancer specialists will prove invaluable," said chief executive Satu Vainikka.
16:04 - Tri-Star Resources (TSTR) confirmed that it had discovered a new area "with significant mineralisation" on its Göynük Project in Turkey.
The new area discovered by late-stage holes returned an intercept of 7.10% antimony over 4.70 metres.
"The antimony mineralisation at Göynük, associated with the major east-west fault, provides a significant target strike length for further drilling in 2012," the antimony exploration and development company stated.
15:52 - AIM-listed gold miner Minera IRL (MIRL) has announced the results of a feasibility study for the Don Nicolas Project, located in Santa Cruz Province, Argentina.
The Don Nicolas Project will become Minera IRL's second producing mine with commercial production targeted to commence in the fourth quarter of 2013.
Ore treatment will be at a rate of 350,000 tonnes per annum to produce a steady-state average of 52,400 ounces of gold and 56,000 ounces of silver per year over an initial mine life of 3.6 years.
The life-of-mine cash operating cost, after silver credit, is expected to be $528 (£337) per ounce of gold. Recoveries of 92.1% of gold and 47.4% of silver are expected.
15:39 - Premier Management (PMA) on Tuesday informed investors that the suspension from trading in its shares will be lifted once a shareholder circular is posted to the company's shareholders regarding its investing policy.
Additionally, the company assured investors that it continued to "make good progress" regarding the acquisition of Central Asia Resources.
However, it stressed that both the preparation of the shareholder circular and the clearing process with the Takeover Panel had taken longer than anticipated.
15:26 - Uranium Resources (URA) has commenced its 2012 drilling campaign at its 100%-owned Mtonya Project in southern Tanzania.
As previously set out in the company's announcement of 12 December, URA has identified three tiers of reduction-alteration at Mtonya.
The 2012 programme is designed to comprise 20,000 metres of open-hole and diamond-core drilling.
15:12 - Sports nutrition life science company Provexis (PXS) provided an update on its proprietary and patented Fruitflow heart health technology.
At the end of 2011 the bioavailability of a small-scale production run of Fruitflow powder was verified in a laboratory in the University of Aberdeen.
The company said that during January an industrial-scale production of powder was successfully completed at a strategic manufacturing site. The production of Fruitflow powder on an industrial scale is an important step in the development of the technology, given the commercial interest being shown by consumer healthcare brand owners for tablet and capsule formats of Fruitflow.
15:00 - Sluggish US retail sales data caused the FTSE 100 (UKX) to move lower.
The UK's benchmark share index was trading seven points lower at 5898.
Royal Bank of Scotland (RBS) plunged almost 4% after credit rating agency Moody's put Britain on a negative outlook. On the other hand, Bunzl (BNZL) climbed up almost 3% after JPMorgan raised its recommendation on the stock from 'neutral' to 'overweight'.
At a glance...
Commodities
Gold: $1,723.64
WTI crude oil: $101.64
Currencies
GBP/USD: 1.5698
GBP/EUR: 1.1929
EUR/USD: 1.3162
All changes from 09:00 GMT.
14:51 - US markets struggled to find form at the open on Tuesday after retail sales data disappointed.
Retail sales came in at a seasonally adjusted 0.4% on the month due to lower automobile sales, according to the Commerce Department.
The Dow Jones slipped 17 points to 12856. The Nasdaq slid four points to 2927, while the S&P 500 declined three points to 1348.
14:39 - AIM-listed Herencia Resources (HER) has confirmed the start of a diamond-drilling programme at the Guamanga copper-gold project in northern Chile.
This current programme is scheduled to comprise four to five holes for a total of approximately 1,500 metres and is designed to test the potential porphyry targets identified at Guamanga in late 2011.
First assay results are anticipated in April.
Managing director Michael Bohm said: "The confirmation of copper-gold mineralisation in the shallow drill holes, together with the surface geological indicators and the geophysical targets is a positive suite of results for the Guamanga joint venture partners."
14:26 - Berkeley Resources (BKY) announced that it hoped to issue 250,000 incentive options at an exercise price of 44 cents expiring four years from the date of issue to its recently appointed non-executive director Laurie Marsland.
"It has been the company's policy to award directors and employees with incentive options to align their interests with those of shareholders and conserve cash while properly remunerating all staff," the company said.
The options will be subject to shareholders' approval.
14:13 - Pennon Group (PNN) assured investors that its performance since 30 September remained "on track to meet management expectations".
The South West Water division was continuing its strong performance, with capital investment increased substantially over the prior year. "Shareholders will receive appropriate returns for K5 private sewer expenditure spent efficiently through the regulatory pricing mechanisms," the company said. .
However, the company warned that full-year profits at Viridor would be "a little below those of last year" due to a reduction in recyclate prices over the winter months along with an increase in bid costs.
14:00 - Housebuilder Persimmon (PSN) said it expects a 50% increase in underlying pre-tax profit when it reveals its final results later this month.
In a preview, the UK's second largest homebuilder said new home legal completions remained steady at 9,360 in the year ended 31 December compared to 9,384 in 2010. Total revenues for the period were around £1.53 billion, below average analyst forecasts. Its average selling price fell by 2% to £164,000.
"Whilst the general economic backdrop to the UK housing market remains challenging we have experienced encouraging levels of visitors, resilient sales reservations, low cancellation rates and stable prices," the group said in a company statement.
Peel Hunt maintained its 'sell' rating and 299p target while analysts at Panmure Gordon kept a 'buy' stance and 542p target.
13:44 - Capita (CPI) has been selected as recommended supplier for the Army's Recruiting Partnering Project.
The company said the Ministry of Defence expects to award a contract in mid March once the procurement process is fully complete and has been approved by Ministers.
The project is an initiative to meet both the quantity and quality of recruits required for the Army's current and future needs. The
contract will modernise army recruiting and deliver significant savings to the taxpayer over 10 years.
13:30 - A majority of Cairn Energy's (CNE) shareholders have held onto their B shares after receiving a dividend per share of £1.60.
Cairn shareholders had three options: the single B share dividend of £1.60; an initial purchase offer of £1.60 for each of their B shares; or a future purchase offer of their B shares.
The dividend follows a promise by Cairn to increase shareholder returns after selling a 40% shareholding in Cairn India to Vedanta Resources. Some of the proceeds have also gone towards oil exploration off the coast of Greenland.
13:10 - CareCapital (CARE) saw its shares jump on Tuesday as it announced completion of The Warrens Medical Centre in Wirral.
The building has a gross internal floor area of 2,028 square metres with 98 parking spaces and is valued at around £5 million.
The centre houses The Warrens Medical Centre, which formed part of CareCapital's medical centre development pipeline.
This now comprises a medical centre, pharmacy and related ancillary areas in Coventry; a medical centre in Bishops Stortford, where construction will commence this year; and four medical centres in Wales that are part of CareCapital's joint venture with Gaufron Healthcare.
12:47 - Yell Group (YELL) disappointed investors once again with its third-quarter results, sending shares in the company down almost 15%.
"The deteriorating macro environment and a more competitive digital directory market are driving a faster rate of directory revenue decline," warned chief executive Mike Pocock.
Read: Yell slumps as results disappoint, for the full story.
12:28 - Two projects to support higher ore production have been approved at the Escondida copper mine in Chile, owned 57.5% by BHP Billiton (BLT) and 30% by Rio Tinto (RIO).
The announcement came as Escondida experienced "successful" brownfield exploration and accelerated in-fill development drilling programmes, resulting in a 17% increase in the mineral resources and a 25% increase in the ore reserves.
For more, read: BHP Billiton and Rio Tinto to boost Chilean copper production.
12:00 - The FTSE 100 (UKX) leapt into positive territory on Tuesday as investors found form despite credit rating woes.
The leading index was seven points ahead at 5913, with Bunzl (BNZL) still flying high, while Royal Bank of Scotland (RBS) dipped.
The winning stock on AIM was Active Energy Group (AEG), up 36%, while Surface Transforms (SCE) was 21% lower.
Interactive Investor users were trading briskly through the site, buying around five times more shares in Gulf Keystone Petroleum (GKP) than they sold. BP (BP.) was a notable sell.
"The FTSE 100 has done its now regular flip-flop with the 5900 level, and while this is a market that clearly doesn't want to go down, it doesn't want to go up much further either," noted David Jones, chief market strategist at IG Index.
He added that the latest European finance ministers' meeting, which starts tomorrow, could help provide traders with some conviction for a more concerted push.
Looking ahead to the US open this afternoon, Jones believes the Dow will start around five points higher.
At a glance...
Commodities
Gold: $1,719.87
WTI crude oil: $101.57
Currencies
GBP/USD: 1.5753
GBP/EUR: 1.1935
EUR/USD: 1.3198
All changes from 09:00 GMT.
11:36 - Japan has boosted its asset purchase programme by ¥10 trillion (£83 billion) and maintained rates at between zero and 0.1% after data showed that the economy had shrunk by a more-than-expected 2.3% in the last three months of 2011.
"The Bank will pursue powerful monetary easing by conducting its virtually zero interest rate policy and by implementing the Asset Purchase Programme mainly through the purchase of financial assets," Bank of Japan said.
The country has been hit by a plethora of negative factors over the past few months. The earthquake and tsunami last year, along with the record-high yen, has dented growth in the export-led economy.
11:11 - InterContinental Hotels Group (IHG) posted earnings before interest and tax (EBIT) for 2011 at the top end of analysts' estimates at $559 million (c£355 million).
Looking ahead, the group guided towards 2-3% room growth in 2012 and confirmed that negotiations regarding the disposal of the InterContinental NY Barclay were progressing.
Shares in the company are trading on a 2012 price to earnings ratio of about 18 times.
"Whilst not inexpensive the group's US exposure, potential for forecast upgrades and additional cash returns to shareholders from the potential sale of the NY Barclay leave it well positioned to outperform," stated Simon French, analyst at Panmure Gordon.
10:43 - The headline consumer price index (CPI) data fell to a 14-month low from 4.2% in December to 3.6% in January.
Inflation fell due to the impact of the January 2011 VAT increase from 17.5% to 20.0% working through. In addition, the year-on-year increase in oil, commodity and many food prices is likely to have eased as they were rising appreciably in late 2010 and early 2011.
"However, January's drop in the annual consumer price inflation rate may have been limited by the fact that many retailers started discounting earlier in the December 2011/January 2012 clearance sales than they did in the December 2010/January 2011," commented Howard Archer, chief UK and European economist at IHS Global Insight.
Archer expects the CPI to trend down steadily to stand around 2.0% by the end of 2012, "helped by the ongoing waning impact of sharply rising oil, commodity and food prices in late 2010/early 2011, and by underlying price pressures being diluted by weak economic activity and elevated unemployment".
10:16 - The UK has seen its top-notch AAA credit rating put on a 'negative outlook' by US agency Moody's, which said it had concerns over growth prospects and eurozone contagion.
The agency highlighted three main risks to the UK's top rating; slower growth and the possible impact on spending cuts, a sharp rise in borrowing costs due to inflation or a new crisis in the banking sector.
However, it noted the UK "continues to be well supported by a large, diversified and highly competitive economy, a particularly flexible labour market, and a banking sector that compares favourably to peers in the euro area".
France and Austria were also warned that their ratings were in jeopardy as Moody's downgraded those for Italy, Spain and Portugal along with Malta, Slovakia and Slovenia.
For the full story, read: UK's AAA credit rating put on 'negative outlook' by agency.
09:51 - Four potential zones for gas production have been discovered in San Leon Energy's (SLE) Siciny-2 well.
The well is located in the company's 100%-operated Gora Concession in the SW Carboniferous Basin of Poland
Read: San Leon buoyed by positive drilling results, for more.
09:29 - Engine-maker Rolls-Royce (RR.) has signed a contract with a new customer - Fiji's national airline, Air Pacific.
The order, worth $210 million (£133.5 million) at list prices, is for Trent 700 engines to power three Airbus A330 aircraft.
09:00 - Love most certainly was not in the air for the FTSE 100 (UKX) on Tuesday, as investors scurried after a slew of credit rating announcements including a replacement of the UK's AAA position with a 'negative outlook' from Moody's.
London's leading index slipped 19 points to 5886, with Bunzl (BNZL) in the lead while Rio Tinto (RIO) fell.
On AIM, CareCapital (CARE) was the first winner of the day, while Acta Spa (ACTA) moved lower.
Interactive Investor users were quick of the mark, selling old favourite Yell Group (YELL) on the site after its gloomy update, while Xcite Energy (XEL) remained in vogue.
US markets
Wall Street held on to most of its gains on Monday as the Greek decision buoyed sentiment.
The Dow Jones closed 72 points higher at 12874, while the S&P 500 added nine points to 1351 with industrials gaining the most and only utilities struggling among its 10 industry groups.
The Nasdaq finished 27 points ahead on a new 52-week high of 2931.
At a glance...
Asian markets
Nikkei 225: 9052 (up 52)
Hang Seng: 20917 (up 30)
Shanghai Composite: 2344 (down seven)
Commodities
Gold: $1,715.18
WTI crude oil: $100.47
Currencies
GBP/USD: 1.5730
GBP/EUR: 1.1943
EUR/USD: 1.3170
08:00 - The FTSE 100 (UKX) opens at 5905.70.
