The FTSE 100 index looked set for some gains earlier this afternoon, but following a poor opening to...
The FTSE 100 index looked set for some gains earlier this afternoon, but following a poor opening to US markets, where the Dow Jones Industrial Average and Nasdaq Composite indices are both down, has managed to close largely unchanged against yesterday's close.
The index closed up 2.5 points at 4,533.5.
Top gainer has been MmO2 after news that US institutional investor Fidelity has increased its stake in the mobile operator to become its biggest shareholder - shares gained 3p to 41.5p.
Household goods producer Reckitt Benckiser added 42p to £11.41 after analysts at UBS Warburg raised the stock to a 'buy'.
Worcesteshire County Council is reportedly looking for new pension fund managers instead of Schroders and Gartmore, but the former's share price did not dive, instead putting on 18p to 581p.
A successful appeal by GlaxoSmithKline against the decision by US drug regulators to not accept a new cancer treatment has turned the tide of investor sentiment in its favour, boosting shares by 35p to £13.88.
And on the day the FSA published the cost of pensions mis-selling reviews - £13.5bn - RSA put on 6p to 239p as the regulator said the bulk of the cost was settled.
At the weaker end of the market, advertiser WPP dropped 28.5p to 537p on expectations of further bad times in the market.
HBOS lost 23p to 693p on further concerns over bad debt following the Bank of England's latest financial review, but with some analysts saying banks are relatively less exposed to the expected bankruptcy of WorldCom.
Attention in the FTSE 250 mid-cap index fell to Matalan as late-afternoon figures showed that sales slowed in May and June due to wet weather, consumers watching World Cup games and celebrations for the Queen's Jubilee.
The index closed up 6.5 points at 5,411.4 and Matalan was seen to have done better than expected, and its share price rise of 16.5p to 293p made it one of the best gainers.
Online bank Egg fared less well, losing 10p to 159p as questions over bank industry earnings and bad debts continue to swirl.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till