World markets made cautious gains today as Cypriot banks reopened for the first time in nearly two weeks amid relative calm.
The FTSE 100 Index closed 24.2 points higher at 6,411.7 as the stricken eurozone country allowed savers to withdraw cash from banks, days after it agreed an £8.4billion bailout of its banking system.
Chemicals manufacturer Johnson Matthey was one of the biggest risers in the FTSE 100, climbing 50p to £23 after announcing a deal to buy catalyst firm Formox for £107million.
National Grid was up 14p to 765p in the blue chip index after updating on strong trading and announcing a new dividend policy which tracks inflation.
Tate & Lyle led gains as investors gave their thumbs up to the firm’s forecasts for modest progress this year, sending the stock up 3% or 25p to 850p.
Miners were the big losers on the blue-chip index however, dragged down by Antofagasta’s decision to approve higher spending on a new project.
The South American copper miner was down 41p at 984p, a 4% fall, while Eurasian Natural Resources was the biggest faller, down 11.6p at 246.1p.
The biggest FTSE 100 risers included Intercontinental Hotels ahead 55p at £20.07, BAE Systems 10.5p higher at 394.3p and Hammerson up 12.5p at 491.9p.
Among the biggest FTSE 100 fallers were Vedanta Resources 26p lower at £10.05 and Tullow Oil down 24p at £12.31.
Steven McKay, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted Faroe Petroleum up 2.5% to 156.375p, Weir Group rose 0.7% to £22.63 and Standard Life gained 0.6% to end at 365.3p.
Among the day’s fallers Premier Oil closed down 1.6% to 388.3p and BP edged 0.8% lower to 459.9p.