The FTSE 100 Index has added 31.50 points, or 0.5%, to 6081.90 paced by ICAP after the world's largest broker of transactions between banks said this morning it had bought back stock worth £8.9m and plans to repurchase more.
Tesco is leading retailers lower after the company said the UK was a subdued market in the third quarter and an industry group survey showed UK retail sales increased at the slowest pace in nine months in November.
ICAP, the world's largest broker of transactions between banks, has gained 15.75p, or 3.5%, to 461p. The company bought 2m ordinary shares at 444.86p each yesterday. The purchase represents about 0.3% of the company's total 646m ordinary shares. Amvescap, the owner of Aim and Invesco mutual funds, has advanced 14.5p, or 2.7%, to 558p.
Tesco has fallen 2.75p, or 0.7% to 394.75. Britain's biggest retailer said fiscal third-quarter UK sales increased 5.6% after the company cut prices to lure customers from Sainsbury and Asda. Woolworths Group has also fallen 3.25p, or 8.8%, to 33.5p after the British retailer said it may miss analysts' profit estimates after declining sales.
William Morrison Supermarkets has also fallen1.25 p, or 0.5%, to 260.5. And Next, the U.K.'s third-largest clothing retailer, has dropped 19p, or 1.1%, to 1765.
In Japan the Nikkei 225 Stock Average lost 37.83 points, or 0.2%, to 16,265.76 as stocks fell on concern the government may reduce the figure for third-quarter gross domestic product later this week, making it more difficult for the central bank to raise interest rates.
Mizuho Financial Group dropped. Mizuho, Japan's second-largest bank by assets, dropped 18,000 yen, or 2.1%, to 829,000. Mitsubishi UFJ Financial Group lost 20,000 yen, or 1.4%, to 1.46m. Sumitomo Mitsui Financial Group, Japan's third-largest lender, fell 30,000 yen, or 2.4%, to 1.2m.
Toyota and other car manufacturers declined after a newspaper report said the government plans to impose tougher fuel-efficiency rules for carmakers. Toyota fell 50 yen, or 0.7%, to 6,910. Nissan slid 28 yen, or 2%, to 1,365.
Nippon Steel, Japan's largest maker of the alloy, rose 6 yen, or 1.1%, to 534. Kobe Steel also jumped 18 yen, or 5%, to 375.
In the US stocks rose on Monday, as corporate takeovers and lower crude oil prices boosted investor optimism, overshadowing a sell-off in Pfizer Inc The Dow Jones industrial average was up 40.86 points, or 0.34% at 12,234.99 at its close.IFAonline
Partner Insight Video: Advisers have had to adapt to the changing investment landscape.
Investment trust savings scheme