Market overview: Oil futures bounce ahead of more Chinese data

1630:Close Miners fell into a pit themselves on Tuesday after Anglo American slashed its dividend payouts, stoking worries that a similar fate might await some of its rivals. Ironically, following selling earlier in the day US crude futures and LME traded three-month copper rebounded to trade slightly higher. West Texas Intermediate futures for January delivery dipped below notional technical support at $37 at one point in the session. The single currency also moved higher, rising back to almost 1.09 by the close. Chinese data due out overnight will be closely watched. FTSE 100 down 88.30 points to 6,135.22.

1625: Front month West Texas oil futures are still bouncing back, trading higher by 1.01% to $37.99 per barrel in NYMEX trading.

1500: UK gross domestic product expanded at a 0.6% pace over the three months to the end of November, NIESR says.

1500: US job openings were at 5.38m at the end of October according to the Department of Labor, down from 5.53m in September (consensus: 5.5m).

1330: Three-month copper futures are slipping 0.7% to hit $4,566.50 per metric tonne on the LME.

1318: West Texas crude futures for December delivery were 1.91% lower at $36.93 per barrel in electronic trading on NYMEX. The $37 per barrel price level in West Texas Intermediate is an important level of so-called 'technical support' - representing the highs reached in 2000 and 1990 - analysts at SocGen point out.

1316: In a research note on Rio Tinto released today Credit Suisse notes the firm's share buy-back programme is slated to end "in the coming days and the probability of extending looks to be fading".

1229: Shares in Victrex are holding just below their 200-day exponential moving average.

1228: Peel Hunt has moved to a 'reduce' and 200p target price on shares of £888m market-cap Entertainment One following a the company's debt refinancing, which will result in a significantly higher debt cost.

1221: Serco is moving lower after JP Morgan lowered December 2015 target price by 16% from 155p to 130p, albeit keeping its recommendation on the stock to neutral. The company said 2016 was now expected to prove more challenging.

1136: Front month Brent crude futures are bouncing back 1.356% to reach $41.29 per barrel on the ICE.

1100: Eurozone gross domestic product expanded at a 1.6% year-on-year clip over the three months to the end of September (consensus: 1.6%).

1003: Shares in Sainsbury and Tesco are at the top of the leaderboard, with market commentary attributing the gains to bargain-hunting ahead of the typically strong Christmas trading period. Constructive comments from Bernstein to the effect that those two grocers had been able to protect some of their prices might also be giving the pair a leg up.

0951: Mondi has taken a hit from a downgrade out of analysts at Bank of America-Merrill Lynch.

0930: UK industrial production grew by 1.7% year-on-year in October (consensus: 1.2%), while the previous month's reading was revised higher to show a gain of 1.5%, up from an initial estimate of 1.1%.

0920: UK House prices slipped 0.2% month-on-month in November (consensus: 0.2%).

0901: Anglo American has cancelled its dividend pay-outs for the second half of 2015 and 2016. Management foresees impairments of between £3.7-£4.7bn.

0849: The Footsie has started the day lower, contrary to indications from the pre-market despite what appear to have been stronger than expected figures overnight on Chinese foreign trade. Miners are weakest, with Rio taking an axe to its capex targets and after Anglo American decided to take its dividend payouts off the table. UK industrial production figures for November are scheduled for release at 09:30, followed by the latest Eurozone GDP data at 10:00. Oil markets are stable, for now. The Shanghai Stock Exchange's Composite Index ended the session 1.89% lower to 3,407.07. FTSE 100 down 17.42 points to 6,206.09.