Beleaguered investors were given some respite today after the FTSE 100 Index posted its first positive session in a week.
A slight fall in weekly US jobless claims was enough to trigger the small rally, aided by a break in the flow of grim news from the eurozone.
Commodity stocks, which have been battered in recent days, attracted bargain hunters. Polymetal International topped the risers board, up 6% or 49p at 816.5p and silver miner Fresnillo added 41p to £14.17.
Other big FTSE 100 Index risers included Lloyds Banking Group ahead 1.3p at 31.2p, Arm Holdings up 20p at 507.5p and Old Mutual ahead 5.8p at 149.7p.
BT fell 5.7p to 211.5p despite it beating its £6billion underlying earnings target one year ahead of schedule and saying it planned to increase its dividend by up to 15% a year for three years. Investors in the telecom giant expressed disappointment over a bigger-than-expected decline in revenue.
Credit checking firm Experian was the biggest Footsie faller, down 1p to £9.10, after selling its price comparison website Pricegrabber at a discount to its purchase price in 2005.
Others on the slide included Reckitt Benckiser off £1.26 at £34.40 and Burberry down 21p to £14.41.
Outside the top flight, Dixons Retail Group jumped 0.75p to 18.2p after it announced a bigger-than-expected 8% jump in UK like-for-like sales and said it was on track for profits near the top end of City expectations.
SuperGroup recovered 8%, or 26p to £3.33 after analysts said a sell-off in shares following a recent profits warning may have been overdone.
Mecca Bingo owner Rank Group was also among the risers – up 2.1p at 115.3p – after it reported a 5% rise in like-for-like revenue in the 17 weeks to May 6.
Elaine McLachlan, of investment manager and financial planning specialist Brewin Dolphin in Inverness, highlighted STV Group up 7.6% at £1.10, Parkmead Group gaining 6.8% to 15.1p and A.G. Barr rising 6.3% to 1123.5p.
Scottish fallers included Havelock Europa off 14.4% at 10.9p andMacfarlane Group down 1.3% to 19p.
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