Market overview: FTSE ends slightly lower after slate of US economic data

1630 (Close): The FTSE ended down 3.07 points to 6946.66 as investors weighed a batch of economic data in the US. Reports showed US gross domestic product in the fourth quarter slowed in the fourth quarter and US consumer confidence declined in February. Among companies, Lloyds Banking Group finished higher after saying it will resume dividend payments and posting its first annual profit in five years.

1533: US consumer confidence declined in February, retreating from an 11-year high in the wake of rises in fuel costs and severe winter weather in parts of the country. The University of Michigan final index of sentiment dropped for the first time in seven months, declining to 95.4 in February from the previous month's reading of 98.1, which was the highest reading since the start of 2004, but was higher than analysts' expectations of 94.0 reading.

1510: Pending US home sales rose to the highest level since 2013 in January, according to data released on Friday. The National Association of Realtors said its pending home sales index climbed 1.7% from an upwardly revised December level, while sales increased 8.4% year-on-year.

1445: Chicago Purchasing Managers' Index tumbles to 45.8 from 59.4 in February against analysts' expectations of a 58.0 reading.

1338: US gross domestic product in the fourth quarter fell to 2.2% from a 2.6% in the previous quarter, but above analysts' expectations of a 2.0% reading. Meanwhile, US personal consumption declined slightly in the fourth quarter to 4.2%,while analysts had expected it to hold steady at 4.3%

1310: German preliminary consumer price index (CPI) inflation rose 0.1% year-on-year in February, compared with expectations of a 0.3% contraction and after a 0.4% decline in January. The harmonised year-on-year CPI for Germany edged higher to -0.1% in February, while analysts had expected it to remain stable at 0.5%, while month-on-month CPI rose 0.9% in February, against forecast of a 0.6% and up from the 1.1% drop in January.

1016: Stocks are continuing to fluctuate between gains and losses, with just 20 points or so separating the intraday low and high. The FTSE 100 is down just 3.98 points (-0.06%) at 6,945.75, pulling back after hitting a new intraday record high of 6,960.00, surpassing the previous peak of 6,958.89 reached on Tuesday.

0935: RBS is extending losses made yesterday after results came in shy of forecasts. Deutsche Bank and JPMorgan have both lowered target prices for th stock today. Lloyds is holding on to gains despite worse-than-forecast annual profits. Statutory profits before tax roared more than fourfold higher to £1.8bn, but were well shy of the consensus expectation for £2.6bn.

0830: UK stocks have opened broadly flat ahead of a German vote on the Greek bailout extension, while investors react to another busy day for corporate earnings. Lloyds is higher after resuming its dividend for the first time in six years, even though 2014 results came in below expectations. IAG and Old Mutual are also higher after their results, while Intu disappointed. There’s plenty of economic data on tap today, including German retail sales, UK and US consumer confidence, German inflation and US GDP.