The London market pulled out of the red today after positive economic data in the US cheered investors.
The FTSE 100 Index closed 20.8 points higher at 5,859.7 after spending much of the session in red, following a raft of poor data from Asia and continued eurozone worries.
The improved figures from the world’s largest economy lifted banking stocks, with Lloyds Banking Group adding 0.5p to 40.6p and Barclays lifting 2.95p to 223.2p.
The ongoing global recession fears kept some mining stocks in the red however, with Evraz falling 11.5p at 250p and Xstrata dropping 19.8p at 980p.
Other stocks on the back foot included BAE Systems, as the prospect of prolonged political wranglings among European leaders over its £28billion merger with EADS removed some of the froth over the stock, which fell 6.5p to 328.1p.
Johnnie Walker and Guinness drinks company Diageo fared better after it said it was in talks about buying a stake in India’s United Spirits. Shares were at the top of the FTSE 100 risers board, 30p or 2% higher at £17.54.
Outside the top flight, shares in Hornby came off the rails after it said the London Olympics had failed to deliver the expected boost to sales. Shares slumped by 34%, off 30.3p to 58.3p.
The biggest Footsie risers were Weir Group up 70p at £18.11, Carnival ahead 76p at £23.42, ARM Holdings up 12.5p at 585p and Hammerson ahead 8.5p at 457.7p.
The biggest Footsie fallers included Eurasian Natural Resources off 8p at 322.6p and Glencore down 7.5p at 346.7p.
Alan MacPhee, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, noted that the risers included Hunting, up 1.82% at 868p, and FirstGroup up 1.52% to 254p.
The day’s fallers included A.G. Barr down 2.07% to 451.9p, with Premier Oil slipping 1.1% to 358.5p and Cairn Energy down 0.81% to 283.15p.