BP Share News (BP.)

(ShareCast News) - London stocks declined on Tuesday ahead of the release of UK gross domestic product data that is expected to show economic growth slowed in the third quarter.GDP, to be released at 0930 GMT, is forecast to ease to 0.6% in the third quarter from 0.7% in the second quarter. On a year-on-year comparison, growth is forecast to remain at 2.4%."Today's expected dip in growth will come as little surprise especially since the Eurozone recovery is struggling to gain traction, meaning UK the manufacturing and services sectors will continue to find the going tough," said FX Pro's chief economist Simon Smith."But a major concern for the Bank of England is the re-emergence of a deflationary environment. With the exception of September's 0.2% rise in month-on-month inflation the UK would officially be in a deflationary environment following negative readings in August and October. Sterling could come under pressure this morning especially if the GDP number is lower than expected."Meanwhile, the US will see a batch of data including durable goods orders, consumer confidence, the S&P Shiller Composite on house prices, and the services purchasing managers' index.US durable goods orders at 1230 GMT are estimated to fall 1.3% in September, following a 2.3% drop a month earlier.The S&P Shiller 20-City Composite Home Price Index at 1300 GMT is forecast to rise to 5.10% year-on-year in August compared to 4.96% a month earlier.Markit's PMI on US services at 1345 GMT is expected to rise slightly to 55.2 in October from 55.1 in September, above the 50 level that indicates expansion in the industry.The consumer confidence index at 1400 GMT is projected to hold at 103 in October.The Federal Reserve is taking a range of economic releases into account in determining the timing of its first interest rate hike in nearly a decade. The Fed will announce its latest policy decision on Wednesday but many analysts expect the central bank to keep rates unchanged.Company-wise BP climbed as the group set out plans for maintaining dividend payments through more cuts in capital expenditure and costs after reporting a sharp fall in third quarter underlying replacement cost profit due to plunging oil prices.St. James Place rose after posting a 17% rise in third-quarter net inflows to a record £1.48bn, taking funds under management to £54.5bn.DS Smith rallied after saying trading for the half year ending 31 October has been in line with its expectations.Mining stocks were under pressure, including BHP Billiton, Glencore, Antofagasta and Rio Tinto, as reports that a People Bank of China adviser hinted at further monetary policy easing added to concerns about the health of the nation.Chemring Group plunged after the defence contractor warned shareholders its profit outlook for the full-year could be dented by a potential revenue delay.Market MoversFTSE 100 (UKX) 6,387.23 -0.46%FTSE 250 (MCX) 17,131.73 -0.27%techMARK (TASX) 3,089.09 -0.55%FTSE 100 - RisersBP (BP.) 389.15p 1.24%St James's Place (STJ) 937.00p 0.70%Standard Life (SL.) 423.00p 0.48%Barratt Developments (BDEV) 649.00p 0.46%British Land Company (BLND) 874.00p 0.46%WPP (WPP) 1,454.00p 0.41%Intu Properties (INTU) 353.10p 0.23%London Stock Exchange Group (LSE) 2,535.00p 0.20%Marks & Spencer Group (MKS) 516.50p 0.19%Next (NXT) 7,975.00p 0.19%FTSE 100 - FallersAnglo American (AAL) 570.90p -3.38%BHP Billiton (BLT) 1,099.00p -2.83%Glencore (GLEN) 113.20p -2.37%Antofagasta (ANTO) 555.50p -2.11%Rio Tinto (RIO) 2,438.50p -1.97%Royal Dutch Shell 'B' (RDSB) 1,720.50p -1.69%Royal Dutch Shell 'A' (RDSA) 1,713.00p -1.66%BG Group (BG.) 1,035.00p -1.48%Centrica (CNA) 228.40p -1.47%Johnson Matthey (JMAT) 2,532.00p -1.44%FTSE 250 - RisersTalkTalk Telecom Group (TALK) 237.50p 5.42%NMC Health (NMC) 800.50p 2.83%AO World (AO.) 159.90p 2.37%Circassia Pharmaceuticals (CIR) 289.00p 1.98%Wizz Air Holdings (WIZZ) 1,909.00p 1.87%CLS Holdings (CLI) 1,836.00p 1.83%Smith (DS) (SMDS) 392.00p 1.61%Micro Focus International (MCRO) 1,197.00p 1.44%OneSavings Bank (OSB) 365.90p 1.33%Foxtons Group (FOXT) 208.70p 1.07%FTSE 250 - FallersNostrum Oil & Gas (NOG) 455.00p -5.03%Premier Oil (PMO) 68.70p -4.85%Evraz (EVR) 84.10p -4.76%Ophir Energy (OPHR) 90.15p -4.30%Vedanta Resources (VED) 478.70p -3.95%Tullow Oil (TLW) 196.80p -3.77%Weir Group (WEIR) 1,051.00p -3.67%Allied Minds (ALM) 436.10p -3.09%Hunting (HTG) 373.70p -2.86%Amec Foster Wheeler (AMFW) 720.00p -2.83%