Market overview: Sky leads gains in lazy session for Footsie

1630:Close UK equities ended the session in the blue by the most slender of margins, weighed down by shares in the main grocers, in lazy trading conditions ahead of the Thanksgiving Day holiday Stateside. Gains in Sky were attributed by some market commentary to the likelihood that BT’s move on O2 will likely divert attention from Sky’s focus on pay TV. In a research note issued on Tuesday afternoon Charles Stanley explained to clients that it does not see Ofcom standing in the way of a re-organisation of the sector, with Sky expected to partner further with Vodafone. FTSE 100 up 1 to 6,731.

1501: The FHFA's house price index remained flat month-on-month in September, instead of rising by 0.4% as economists had forecast.

1500: The US Conference Board's consumer confidence gauge for the month of November plummeted to a reading of 88.7 from 94.1, its lowest reading since June and far below the print of 96 which economists had been expecting.

1330: The Commerce Department revealed that gross domestic product (GDP) rose by an annualised 3.9%, compared to 3.5% previously. Analysts had predicted GDP would slow to a 3.3% gain. Another report revealed US personal consumption increased 2.2% in the third quarter, after a 1.8% in the previous three months. Economists had pencilled in a 1.9% gain.

1314: Ore with 62% content delivered to Qingdao fell 1.2% to $69.58 a dry metric ton earlier today, its lowest since June 2009, data from Metal Bulletin Ltd. showed, Bloomberg reports.

1228: Inflation expectations one-year ahead for the UK slipped to 1.8% in October from 1.9% in the prior month, according to the results of the latest YouGov/Citi survey.

1227: Analysts at Standard Chartered now see OPEC deciding upon a reduction in their output ceiling to 29m barrels of oil a day.

1005: Speaking before the Treasury Select Committee the BoE's Cunliffe said he is more worried now about possible downside risks to inflation given the zero lower-bound to interest rates.

0917: Credit Suisse reiterates 'outperform' recommendation on IAG. Friends Life Group downgraded to 'reduce' at Charles Stanley.

0905: UK stocks have started the morning slightly higher, buoyed by gains in shares of M&S and airlines. Miners shares on the other hand are off sharply as is Petrofac, which is seeing some follow through selling from yesterday, but Kingfisher is doing worst following the latest figures out from the company. Governor Carney is due to testify before the Treasury Select Committee this morning, with sterling set to be one of the main talking-points according to some observers. German GDP was confirmed at a 0.1% quarter-on-quarter pace in the third quarter, as expcted, thanks to a robust 0.7% expansion in domestic consumption. US GDP numbers are due out later in the session. FTSE 100 up 7 to 6,737.