Apple shares flat after UK tribunal declines permission to challenge app store ruling

** Apple Inc.'s AAPL shares are flat at $273.73 on Thursday after a UK tribunal denied permission to challenge its earlier ruling that the company had abused its dominant position by charging developers exorbitant commissions

** AAPL had opened the session trading higher but had lost ground in early afternoon trade. It is on track for the second straight day of losses although it is still near its all-time intra-day record high of $277.32 reached on Oct. 31

** The broader S&P 500 SPX was down 1.5%, led by declines in the technology sector

** The Competition Appeal Tribunal (CAT) ruled against AAPL last month after a trial, finding that it had abused its dominant position by shutting out competition in the app distribution market and "charging excessive and unfair prices" as commission

** The decision left Apple AAPL facing a potential bill of $1.3 billion

** The CAT refused Apple permission to challenge its ruling, but the company can still apply directly to the Court of Appeals

** AAPL is up 8.7% YTD vs Nasdaq Composite index's IXIC 18.3% increase in the same period.