The FTSE 100 index closed up 8.9 points to 4,546this afternoon after UK stocks rebounded, led by gains made by struggling retailer Marks & Spencer.
Marks & Spencer rose 12.5p to 277p on speculation it may be bought by one of two firms. This is the clothing retailer's biggest gain in more than a year but the rise follows an article in the Sunday newspapers suggesting Kohlberg Kravis Roberts & Co. and billionaire UK investor Philip Green are among possible bidders for the company.
Vodafone also gained 3p to 137.5p after Dresdner reported the company remained the brokerage's favorite stock in the mobile-phone industry and repeated its "buy" recommendation.
Across the Atlantic, trading is currently down as the Dow Jones Industrial Average index so far has lost 23.49 points to 10,428.48.
The S&P 500 index is also down 0.55 points to 1,134.06. Nasdaq's Composite index has, however, so far climbed 12.73 points to 2,008.47.IFAonline
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November