The FTSE 100 remains marginally in the red this afternoon, with miners dragging on the index.
London's blue-chip index was down 0.11% to 5,751 by by 2:30pm. Miners are retreating on the back of BofA-Merrill Lynch Global Research downgrading Vedanta Resources.
Vedanta, down more than 2%, is planning to buy a controlling stake in Cairn India. Lonmin is down nearly 1%, with Antofagasta and Xstrata also suffering losses.
The spotlight is also shining on IPO activity, with AIA, the Asian arm of the American insurance giant AIG, raising $20.5bn from a float and online betting firm Betfair priced its London float at £13.
A number of financials are among the day's winners, with RBS, Lloyds and Resolution all advancing above 2%.
Across Europe, the German Dax is marginally in negative territory, while France's Cac 40 has edged up 0.04%.
Meanwhile, US stocks are poised to open higher on the back of strong earnings reports. Investors will be mulling a letter from US Treasury Secretary Timothy Geithner to G-20 nations, which urges developing countries not to manipulate currencies.
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