The FTSE 100 has ended the day on a slight high with a rise of 4.9 points, or 0.09%, to 5,470, as firmer oil prices gave oil stocks such as BP a boost.
Crude oil for December delivery has rebounded from a 16-week low rising 1.2% to $58.20 a barrel, as forecasts for colder weather in Europe and the US signalled consumption may increase, causing BP to rise 9.5p, or 1.54%, to 628p.
Other winners included BG Group, which rose 13.5p, or 2.59%, to 534.5p, and Cairn Energy, which advanced 44p, or 2.42%, to 1,864p. BHP Billiton also jumped 6.5p to 847.5p, following strong gains in Australia overnight as a supply shortage sent world copper prices to new records.
Telecoms firm Cable & Wireless led the list of the FTSE fallers, shedding 3.25p, or 2.57%, to 123.25p, as dealers reported profit taking after last week's gains. Shares in Schroders also fell 17.5p, or 1.92%, to 892.5p, ahead of results scheduled for Tuesday.
In the US, the Dow Jones Industrial Average is making small gains of 1.2 points, or 0.01%, to 10,687.24, after reports of strong sales growth at Wal-Mart Stores and better-than-expected earnings at Lowe's Cos.
Wal-Mart, the world's largest retailer, has added $0.28 to $49.28, after the company said third-quarter sales have risen 10% to $76.3bn. Wal-Mart has said it expects full-year earnings of $2.64 to $2.68 per share.
Lowe's, the second-largest home-improvement retailer, has also added $3.06 to $65.03, as third-quarter net income was $0.81 a share, beating analysts’ estimates.
Elsewhere Georgia-Pacific, the biggest tissue maker, has soared $12.86, or 37%, to $47.51, after Koch Industries agreed to buy the company for $13.2bn. Meanwhile, International Paper, North America's biggest paper maker, has also rallied $0.93 to $30.76.
Starwood Hotels, owner of the Sheraton and Westin chain, is also gaining by $0.12 to $59.38, after the company agreed to sell 38 properties for about $4bn, to Host Marriott, which owns hotels operating under the Hyatt, Hilton and Westin names.
Meanwhile Hewlett-Packard, the world's largest printer maker, is leading the loser board with a drop of $0.73, or 2.56%, to $27.79 after analysts cut the shares to ``market perform'' from ``outperform,'' saying that the stock is too expensive.IFAonline
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