The FTSE 100 has ended the day almost level with a slight loss of 1.3 points, or 0.02%, to 5896.6 as miners rallied strongly to reduce earlier losses.
Energy stocks still acted as a drag on the FTSE with British energy leading the fall with a loss of 4.46% to 718p, as it announced it had increased its profits but would be unlikely to meet its production targets.
As a result international Power slipped 1.8% to 314p, while Scottish and Southern energy also dropped 1.76% to 1,225p, and BT also fell 3.01% to 233.5p after it bagan trading ex-dividend.
However mining companies provided the biggest gains, with Vedanta ending the day up 5.76% to 1,341p, while BHP Biliton added 3.84% to 1,027p, Rio Tinto gained 3.71% to 2,795p and Xstrata increased by 3.58% to 2,285p.
In the US the Dow Jones Industrial Average is up 39.15 points, or 0.35%, to 11,269.41 as a tame increase in core consumer prices supported the view the Federal Reserve will keep interest rates unchanged in the short term.
Shares of Hewlett-Packard have gained 0.6% to $34.18, as the computer maker prepares to close the quarterly reporting season by posting its figures after the close of trading.
Elsewhere other computer stocks are performing well with IBM up 1.34% to $78.11, while Intel has gained 0.99% to $18.31, although Caterpillar is currently leading the gains with an increase of 1.85% to $68.66.
And shares of Abercrombie & Fitch have so far posted one of the day’s top gains with a jump of 9.94% to $61.04 after the retailer posted a stronger-than-expected quarterly profit.
A decline in energy prices is also supporting stocks, as crude has fallen a further $0.20 to $72.50 a barrel after the Energy Information Administration released its official inventory data.IFAonline
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