- UK deeper in recession- ARM jumps after beating expectations- Footsie bulls into the blueThe Footsie pulled into positive territory by Wednesday lunchtime in spite of some miserable economic growth data in the UK.UK gross domestic product (GDP) figures released by the Office for National Statistics today showed the British economy contracted by 0.7% in the three months to the end of June, following on from a 0.3% fall in the first quarter and a 0.4% decline in the fourth quarter of 2011. Economists had pencilled in decline in GDP of just 0.2%."While today's numbers represent a blow to the UK's recovery hopes, the economy still seems likely to exit recession in Q3, driven by an unwind of the Jubilee effect and more buoyant construction activity," said analysts at Barclays Capital.Markets are also focusing again today on the Eurozone after Reuters reported last night that three European Union officials believe that Greece will have to restructure its debt yet again, as it struggles to make debt repayments.Meanwhile, following Moody's ratings outlook cut for AAA-rated sovereigns Germany, the Netherlands and Luxembourg yesterday, the ratings agency also reduced its outlook for the AAA rating of the European Financial Stability Facility (EFSF) from 'stable' to 'negative'.The agency said that a deterioration in the creditworthiness of the participating euro area member states are among the risks that would negatively affect the creditworthiness of the EFSF, the temporary European bailout fund. FTSE 100: ARM lifts the Footsie higherCambridge-based computer chip designer ARM Holdings beat market expectations with its second-quarter results, as demand for its intellectual property continues to make it a British technology success story. Shares were nearly 6% higher.Outsourcing behemoth Capita advanced after saying it is confident of growing revenue this year and beyond as it takes advantage of a buoyant outsourcing market in the UK public sector. Revenue in the first half was up 15%. Telecoms titan BT dropped after saying that while underlying earnings grew in the first quarter, its corporate customer-focused Global Services unit having a tough time of it in Europe and London's financial district. Shares in speciality chemicals group Johnson Matthey slipped after the firm reported weakness in its precious metals division as a result of lower commodity prices. Tullow Oil dropped despite hailing an "excellent" first half. Revenues grew by 10% on the back of increased sales volumes, average production and sustained high oil prices. Pre-tax profits surged by 48% but growth was held back by increased exploration write-offs and higher costs. Cigarette giant British American Tobacco disappointed after saying that currency headwinds in key markets saw reported revenues hold steady in the first half. Utilities group SSE was a heavy faller after going ex-dividend; from today onwards, investors will not have the right to the group's latest dividend payment.FTSE 250: Petropavlovsk and Renishaw lead the risersRussian gold miner Petropavlovsk surged after maintaining its production targets for the full year and reported progress in its exploration work. Attributable production across its five mines for the second quarter was 158,300 ounces, a 10% rise on the same period of 2011. Precision tool maker Renishaw jumped after posting a 7% increase in annual pre-tax profit, boosted by strong demand across all its markets for its precision measuring products. Shares in Drax, which converts coal and biomass to energy, plunged after the government announced that it has decided to create support levels for electricity generated from sustainable biomass at existing fossil fuelled power stations on an individual generating unit by unit basis, and not, as previously proposed, on a power station wide basis.FTSE 100 - RisersARM Holdings (ARM) 514.50p +6.13%Capita (CPI) 698.50p +3.10%Royal Bank of Scotland Group (RBS) 202.30p +2.90%RSA Insurance Group (RSA) 110.00p +2.52%Eurasian Natural Resources Corp. (ENRC) 371.90p +2.28%Reed Elsevier (REL) 517.50p +2.27%Barclays (BARC) 153.95p +2.22%Vedanta Resources (VED) 850.00p +2.10%Kingfisher (KGF) 259.20p +2.01%Polymetal International (POLY) 810.50p +1.95%FTSE 100 - FallersSSE (SSE) 1,290.00p -5.43%BT Group (BT.A) 207.30p -4.65%Tullow Oil (TLW) 1,308.00p -4.53%Johnson Matthey (JMAT) 2,047.00p -3.26%Rolls-Royce Holdings (RR.) 828.00p -1.60%Imperial Tobacco Group (IMT) 2,421.00p -1.14%InterContinental Hotels Group (IHG) 1,508.00p -1.05%GlaxoSmithKline (GSK) 1,430.50p -1.04%Tate & Lyle (TATE) 641.00p -0.93%Aggreko (AGK) 1,942.00p -0.87%FTSE 250 - RisersRenishaw (RSW) 1,400.00p +10.24%Petropavlovsk (POG) 413.00p +8.43%FirstGroup (FGP) 216.80p +5.55%Man Group (EMG) 75.95p +5.49%Ocado Group (OCDO) 75.50p +5.30%easyJet (EZJ) 549.00p +3.39%Afren (AFR) 124.50p +3.32%Bodycote (BOY) 333.00p +3.22%Senior (SNR) 187.20p +2.86%Lancashire Holdings (LRE) 779.50p +2.84%FTSE 250 - FallersDrax Group (DRX) 429.10p -17.24%Cookson Group (CKSN) 555.50p -6.80%COLT Group SA (COLT) 104.60p -5.34%Euromoney Institutional Investor (ERM) 751.50p -4.81%Atkins (WS) (ATK) 721.50p -3.93%Bwin.party Digital Entertainment (BPTY) 108.20p -3.74%Galliford Try (GFRD) 600.00p -3.61%Oxford Instruments (OXIG) 1,211.00p -3.43%Savills (SVS) 360.80p -3.35%Fenner (FENR) 332.30p -2.95%BC