1630:Close The top flight index bounced back on Monday after reaching technically 'oversold' levels and despite the somewhat mixed economic data out overnight in China and the Eurozone. Aggreko led gains following a better-than-expected trading statement. CRH nipped at its heels, with the company´s share price having been stoked by favourable comments out of analysts at Deutsche Bank. RSA stock tried to climb back again after Friday´s shock profit warning, which led some observers to worry that it could lead to a substantial downgrade from ratings agencies. That, in turn, could conceivably hit the group´s premium income hard. Reports on Monday indicated that its Chief Executive has moved quickly to try and reassure the agencies. FTSE 100 up 82 to 6,522.
1610: The US Department of Energy has revised its forecats for annual growth in US oil supplies sharply higher, to 800,000 barrels per day until 2016. That comes as Bloomberg reports on North America being expected to drown in oil after Mexico last week opted to open its petrochemicals sector to foreign investment. Lybian rebels, on the other hand, have today reportedly refused to reopen three Mediterranean ports which are key to energy exports from the North African country.
1507: The fact that the MPC will keep its main policy rate steady for the next two years means that 'intermediate' yields on Gilts will be constrained. That comes as the Bank of England is aware of just how much more risky it would be to tighten monetary policy too early, Mike Amey, a money manager at PIMCO wrote to clients, Bloomberg reports. The yield on 10-year Gilts is slipping lower by 3 basis points to 2.87 per cent. FTSE 100 up 88 to 6,528.
1330: US industrial production grew at 1.1 per cent month-on-month pace in November, coming in ahead of the 0.8 per cent rate expected by economists. The degree of capacity utilisation clocked in at 79.0 per cent, much faster than the 78.2 per cent which had been foreseen.
1204: Shares of Cable&Wireless are near the top of the leaderboard on the FTSE 250 and seem to offer a positive medium-term technical aspect, analysts at Sharecast muse, even if the stock is currently in 'oversold' territory.
1100: The FTSE 100 has extended gains and is now trading up 33.47 points at 6,473.43 as Aggreko continues to rise. According to Investec, Aggreko investors 'should be able to sleep slightly easier tonight' after the firm's reassuring trading update this morning. 'Aggreko's interim management statement should be seen as a welcome update, at first glance in any event, with no warning on profits (indeed the reverse, helped by a small provision release) and a year-end net debt position better than we expected,' said analyst John Lawson. The broker kept a 'hold' rating on the stock.
0908: Buying has picked up a little with the FTSE 100 now up 16.86 at 6,456.82. However, RSA is weighing on the upside after the Financial Times this morning said Chairman Martin Scicluna is to hold 'urgent talks' this week with rating agencies in an attempt to avert a credit ratings downgrade. This follows a profit warning and the surprise exit of RSA's Chief Executive Simon Lee on Friday.
0830: The FTSE 100 is little changed from its previous close of 6,439.96, its worst finish since October 10th, as caution sets in ahead of the Federal Reserve's policy meeting and the Christmas holidays. Mining stocks are capping gains for London's benchmark index early on after the release of worse-than-expected manufacturing figures from China, where the sector PMI fell from 50.8 to 50.5 (forecast: 50.9). Aggreko has jumped this morning after saying it expects full-year results to be slightly higher than previous estimates. The FTSE 100 is up just 0.4 points at 6,440.36.