The FTSE 100 index ended Thursday's trading up 12.6 points at 4,435.4 as the market waited for the OPEC announcement, while Marks & Spencer declined and SABMiller advanced.
Just an hour before close of UK stock market trading, the oil producing members of OPEC announced it would increase oil production. However, such a move was anticipated, so the oil price has remained unmoved at around $40 a barrel or $47 a barrel in London.
SABMiller, one of the world’s largest brewers, rose 17.5p to 669.5p after dropping its bid for China's Harbin Brewery Group, which could now go to Anheuser-Busch given they topped its SAB's offer by 30%.
Clothing retailer Marks & Spencer also closed the day down 9.75p, or 2.7%, to 356.25p, after rejecting a £10bn takeover deal from billionaire Philip Green. This is despite ceo Stuart Rose's promise to review the company and find ways of improving the share price.
Big Food Group jumped 4.75p to 105.75p after the retailer and wholesaler reported it is no longer thinking of buying the Londis grocery chain.
British Airways advanced 2.75p to 251.75p while Centrica, one of Britain's biggest energy suppliers, climbed 5.5p to 217p.
In the meantime, recruitment company Hays fell 1.5p to 121.75p after saying it will spin off its DX business mail-delivery unit.
And Yates Group, the pub and bar owner announced it is in talks that may lead to a takeover offer being made by GI Partners, a private-equity fund. This boosted its share price 19.5p to 122p.
Across the Atlantic, the Dow Jones Industrial Average index is currently up 6 points at 10,269, while the S&P 500 index is down 1.3 points at 1,123.
And the Nasdaq Composite index has so far lost 10.5 points to 1,978IFAonline
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