The FTSE 100 has started the day well with a rise of 22.8 points, or 0.34%, to 6,644.2 in early trading, as broker upgrades have helped boost the drinks sector
Punch Taverns is posting the biggest gains with a rise of 2.46% to £13.77, closely followed by Johnson Matthey 2.03% to £16.59, while Home Retail has added 1.96% to 481p, and Schroders has advanced 1.59% to £14.06.
Schroders NV Non-VTG is also up 1.57% to £12.30, although gains are being limited by Persimmon which is down 0.81% to 313.55, while Shire has started the day down 0.76% to £11.78.
Banks are also performing poorly, with Standard Chartered down 0.53% to £17.01, closely followed by Alliance & Leicester which has slipped 0.34% to £11.81, while British American Tobacco is down 0.64% to £17.
In Japan, the Nikkei 225 Stock Average added 83.13 or 0.5%, to 17,958.88, as car makers rose on speculation US sales rose in May.
Toyota jumped 160 yen, or 2.2%, to 7,460, while Denso, Japan's biggest auto-parts maker which is 23% owned by Toyota, advanced 60 yen, or 1.4%, to 4,330, while Aisin Seiki, an affiliate of Toyota which makes transmissions and clutches, climbed 100 yen, or 2.4%, to 4,210.
Nippon Mining advanced 29 yen, or 2.7%, to 1,099, while Mitsui, which trades industrial fuel and metals, jumped 70 yen, or 2.9%, to 2,470, and Sumitomo Metal Mining rose 135 yen, or 4.9%, to 2,910.
Advantest, the world's biggest maker of memory-chip testing equipment, climbed 80 yen, or 1.5%, to 5,280, while NEC, Japan's largest personal computer maker, added 6 yen, or 1%, to 626.
In the US, the Dow Jones Industrial Average lost 5.44 points, or 0.04%, to 13,627.64, as the Commerce Department reported first-quarter GDP below forecasts at 0.6%, the slowest economic growth since 2002.
Microsoft was the biggest loser with a fall of 1.35% to $30.69, closely followed by Disney which slipped 1.31% to $35.44, while Exxon Mobil dropped 0.99% to $83.17, and Verizon Communications declined 0.66% to $43.53.
Altria Group also fell 0.55% to $71.10, although losses were limited by United Technologies which climbed 1.61% to $70.55, while Du Pont added 1.16% to $52.32, Wal-Mart gained 1.02% to $47.60, AT&T advanced 0.88% to $41.34, and McDonald’s rose 0.64% to $50.55.
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