Market overview: FTSE ends lower after UK GDP miss, mixed US data

1630 (close): The FTSE 100 has ended down 51.75 points to 6,365.27 as investors weighed a slowdown in third quarter UK gross domestic product and a mixed bag of US economic data. UK gross domestic product rose 0.5% in the third quarter compared to 0.7% in the second quarter, well below estimates for a 0.6% increase, the Office for National Statistics revealed. On a year-on-year comparison, GDP unexpectedly eased to 2.3% from 2.4%. In the US, reports showed durable goods orders fell slightly less than expected last month while US consumer confidence dropped more than forecast in October. Markit's flash PMI on services unexpectedly dipped in October. Company-wise miners were under pressure amid concerns about the slowdown in China's economy, fuelled by reports of possible further stimulus.

1618: Front month West Texas crude futures are off by 2.48% to $42.92 per barrel on the NYMEX.

1600: BoE's Shafik reiterates rise in Bank Rate will be limited and will occur at a gradual pace.

1538: IBM's board announces $4bn share buyback programme.

1345: Markit services PMI slips to 54.4 in October from 55.1 in the month before, its lowest since January 2015.

1340: JP Morgan cuts Q£ GDP forecast to 0.6% on the back of today's weaker than expected durable goods report.

1330: US durable goods orders decline by 1.2% month-on-month in September (consensus: -1.5%).

1030: Treasury sells £3bn in 10-year Gilts.

0930: UK gross domestic product slowed to a 0.5% quarter-on-quarter clip in the third quarter, from 0.7% in the previous three months (consensus: 0.6%). In year-on-year terms GDP slowed to a 2.3% clip year-on-year from 2.4% (consensus: 2.4%).

0900: Natural gas prices have fallen below the $2 mark per MMBtu for the first time since 2012.

0852: The European Central Bank’s chief economist, Peter Praet, said on Tuesday that there would be “no taboos” with regard to discussions about additional monetary loosening to push up inflation in the euro bloc.

0834: Stocks fell out of bed early on Tuesday, weighed down by renewed selling pressure in the commodities patch. BP and St.James's Place were managing to swim against the current following their latest financials. Overnight, the Shanghai Stock Exchange Composite Index edged higher by 0.17% to reach 3,434.34. All eyes were on the Eurozone M3 money supply figures due out at 09:00, followed close behind by the preliminary reading on third quarter gross domestic product in the UK. A raft of data was set for release Stateside in the afternoon. Apple's latest quarterly figures, scheduled for release after the close of trading, were eagerly awaited. FTSE 100 down 24.40 points to 6,392.62.