While most European indices were falling the FTSE 100 made gains of 8.30 points to 4,749.80 despite some afternoon weakness sparked by falling US stocks.
AngloAmerican led with a rise of 25p to 1,298p after notification the company is to be switched from the MSCI UK index to the developed market indices. A separate report suggested Chinese demand for commodities such as iron ore will rocket again next year.
Old Mutual gained 1.75p to 130.25p as talks continued to see one of its South African-based units sold to that country’s largest trades union.
BAE Systems gained 4p to 247p on reports European governments will commit to a second tranche of Eurofighter aircraft – the Continent’s most expensive defence procurement programme, recently abandoned by the Greek government to cover its deficit caused by hosting the Olympic Games.
United Utilities led its sector with a 4.5p gain to 378p after regulator Ofgem said it would allow power companies to make a return of 4.8% on investments in the next five years.
Royal & Sun Alliance fell 1p to 74p after the FSA published final rules for depolarisation, which is set to come with a new advertising campaign urging consumers to demand more information from distributors and providers when buying products.
Aviva dropped 4p to 574.5p.
Rexam, the packaging firm, closed down 4.5p at 456.75p after a downgrade by Deutsche Bank.
Shares in the US are trading down so far today.
The Dow Jones Industrial Average is off by about 86 points to 10,436 as analysts express doubts over the strength of retail spending in the run-up to Christmas.
The broader S&P 500 index is off by about 8 points to 1,174.IFAonline
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