Positive earnings reports from some of the FTSE 100 top players have boosted the index this morning.
The FTSE opened 0.30% higher at 5712 points as BP, Aviva, Imperial Tobacco and BG Group all grew earnings.
Consumer product company Reckitt Benckiser Group topped the index with a 2.07% gain. It says new products and a strong performance in developing markets led to third quarter profits beating estimates.
Oil giant BP was up despite having to fork out an additional $7.7bn (£4.80bn) for the Gulf of Mexico oil spill. The company managed to beat Q3 profit forecasts due to "strong operating performance".
Full-year profits at Imperial Tobacco rose 10% easing investors' concerns over its large debt while BG Group grew third quarter earnings by 27%.
Aviva, the UK's second biggest insurer, revealed higher demand for retirement products led to a sales increase of 6% over the past nine months. The group also reaffirmed it is on track to deliver profitable growth for the full year of 2010.
Lloyds also reported a steady third quarter this morning stating better margins in its core banking business and bad debts are being kept under control.
In the US, the Dow Jones reversed earlier gains as investors became worried about the outcome of the Fed meeting and mid-term elections.
After a strong start, which saw highs of 11.244 following better-than-expected manufacturing data from China and the US, the index fell to 11,062 by mid-afternoon. At close, the leading companies had recovered a little, with the index finishing at 11,124.
The Nikkei 225 fell 0.5% on Monday to 9,155 points as the yen moved sharply off a 15-year high against the dollar.
The stockmarket move triggered speculation of government intervention but the Japanese Finance Ministry declined to comment on the currency movement.
Honda, Sony and Canon were amongst the fallers.
Additional reporting by Sharecast.
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