The FTSE 100 index is up about 7 points to 4,554 as three of the biggest stocks make gains to offset a fall by the banking sector sparked by RBOS' acquisition of a US bank.
Vodafone is up 3p to 142.5p.
GlaxoSmithKline is up 11p to 1,189p.
BP is up 1.75p to 494p as oil prices reach new highs on security fears linked to the Middle East.
Aviva is up 3p to 555.5p after reporting growth in both sales and profit margins from its UK and European businesses in the first quarter, helping send the insurance sector higher.
L&G is up 0.75p to 95p, Pru is up 6p to 455.5p, and Friends Prov is up 2.75p to 147.5p.
Royal Bank of Scotland is down 72p to 1,650p after announcing it will sell up to £2.5bn worth of new shares to help fund the $10bn purchase of Charter One in the US to expand its operations there.
Abbey is down 7.25p to 454.75p as speculators sell out on the previous hopes it might have been a takeover target for RBOS.
The FTSE 250 index is down a point at 6,227 after Easyjet shed 62.25p to 230p after reporting growing competition on low-cost routes.
Shares gained marginally in the US yesterday, despite new warnings from the Federal Reserve the interest rate cycle has definitely turned.
The Dow Jones Industrial Average index closed up 3.20 points at 10,317.20, the S&P 500 closed up 2.06 points at 1,119.55, and Nasdaq’s Composite closed up 11,76 points at 1,950.48.
Markets are still closed in Japan, however, Hong Kong’s Hang Seng index is down 144.27 points to 11,954.03, with traders citing last night’s bombs set off in Athens ahead of the Olympic games, which open in 100 days’ time.IFAonline
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