The FTSE 100 index closed down 0.12% at 5,780 points today as PartyGaming's poor showing offset gains posted by oil major companies, and Cable & Wireless lost all of its earlier gains.
PartyGaming continued tits slide from Friday, ending the day down 5.85% to 132.75p.
Cable & Wireless also dropped 0.22% to 114.50p despite starting the day as the biggest riser, as it is reported Iceland's richest man, the value investor Thor Bjorgolfsson, was building a stake in the firm.
Mining giants saw mixed performance as BHP earned 0.76% to 1,060p, Rio Tinto rose 0.68% to 2,953p and Antofagasta gained 1.36% to 2,080p. At the same time, however, Anglo American dropped 1.01% to 2,165p, Kazakhmys was down 0.23% to 885p and Xstrata dropped 2.26% to 1,598p.
African Copper rallied up 11.52% to 92p as the mineral explorer said it found high grade copper-silver intersections at the Thakadu-Makala deposit at the Matsitama belt in Botswana.
Oil majors BP and Shell were also strong performers as US March crude traded above $67.50 a barrel. BP was up 2.48% to 682p, while Shell rose 2.14% to 2,002p. Shell is expected to post the largest profits ever seen in the UK on Thursday.
Reinsurer Alea indicated losses in 2005 would be in the region of $200m-$240m if nothing else untoward emerges. It dropped 23.30% to 65p.
In the US, the Dow Jones Industrial Average index is up 5.92 points or 0.05% at 10,913.13 as strong earnings from Exxon Mobil boost the energy sector. That said, investors are cautious as a Federal Reserve meeting tomorrow (Tuesday) is expected to see interest rates rise.
Shares of Exxon have risen 3.1% to $63.16 on the New York Stock Exchange and have sent shares of 27 of the 29 energy-related companies in the Standard & Poor's 500 index higher.
Wal-Mart Stores is up 1.9% at $46.71, after the company said on Saturday January same-store sales rose 4.7%.
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