FTSE avoids US drop

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Share falls in the US overnight did not upset UK investors who here have this morning pushed the FTSE up about 8 points to 4,808.

ITV is up 3.25p to 114.75p following speculation unleashed yesterday regarding a possible bid for the commercial television operator. Cairn Energy is up 31p to 1,099p as oil prices gained in New York overnight on rising demand for heating fuel in the US as winter weather continues. Mining stocks have been buoyed by a note from Deutsche Bank analysts predicting prices of metals commodities will continue rising through the next 24 months. Xstrata is up 17.5p to 887.5p, BHP Billiton is up 12p to 615p, and Rio Tinto is up 29p to 1,544p. Liberty, owner of shopping centres, is up 14p ...

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