Market overview: Moody's puts BHP credit rating under review

1135: Moody’s Investors Service has placed BHP Billiton’s credit rating under review for a possible downgrade. "The review for downgrade reflects Moody's expectation that weak commodity prices will persist for the next several years, significantly reducing BHP Billiton's earnings and cash flow generation" said Matthew Moore, a Moody's vice president and senior credit officer.

1102: UK Prime Minister David Cameron said European Union leaders had found a “pathway" to a new deal on Britain's membership of the 28 nation bloc. Speaking late on Thursday night after discussions with his EU counterparts, Cameron said no specifics had been agreed, but progress had been made towards finalising details ahead of a deadline set for February with other member states indicating they were willing to make compromises to meet British demands.

1022: DBS said on Friday that there was "no basis" to a report from CLSA suggesting that the Singapore-based lender may be interested in acquiring Standard Chartered. “There is no basis to the report, and it is not on our agenda,” a DBS spokesman said.CLSA put out a research note on Thursday upgrading its rating on StanChart as it said the bank, whose recovery could prove to be challenging, may be approached by a white knight. CLSA said DBS looked to be the "most likely acquirer".

0952: The Bank of Japan kept its base money target under the stimulus programme but set up a new one to buy exchange-traded funds, extend the maturity of bonds it owns and up its purchase of key risky assets. Markets in Japan briefly rallied on the news, but BoJ governor Haruhiko Kuroda said at the press conference following the announcement that the latest policy changes did not amount to additional easing as they do not address the downside risks to the economy.

0948: Gold futures plummeted overnight to a six-year low, following the US Federal Reserve’s decision to hike interest rates by 25 basis points at its latest monetary policy meeting. At 0948 GMT, COMEX gold for February delivery was up 0.41% or $4.30 at $1,053.90 an ounce, having declined from $1,075-levels prior to the Fed announcement – late on Wednesday – to $1,045-levels over the subsequent session.

0943: Stocks in London slipped in early trade, tracking losses in the US and Asia. At 0910 GMT, the FTSE 100 was down 0.2% to 6,087.69. “With the US rate rise finally out of the way this appears to be another classic example of buy on rumour, sell on fact,” said Mike McCudden, head of derivatives at stockbroker Interactive Investor.

0730: Sportswear retailer Sports Direct issued a statement on Friday defending the way it treats its staff following a damning report in the Guardian. The company said criticism of the way it treats its staff was “unfounded” as it announced that founder and deputy chairman Mike Ashley will personally oversee a review of all agency worker terms and conditions to ensure the group meets its legal obligations and provides a good environment.