LONDON: Britain's leading share index held firm in thin volumes at midday on Thursday, Dec 23, supported by a stronger energy sector although a slight retreat by miners anchored the index just below the 6,000 level.
At 1146 GMT the FTSE 100 index was up 9.70 points, or 0.2 percent at 5,993.19, having reached a fresh 30 month peak early on at 5,999.16.
Trading volumes were just 13 percent of the 90-day average on the final full-day session before the Christmas break.
"Private investors have been pumping money into the stock market this year. If the FTSE does smash through the 6,000 barrier we might see even the most risk-averse moving their money out of savings accounts into equities," said Will Hedden, a sales trader at IG Index.
Integrated oils provided the main fuel for the blue-chip gains as the crude price climbed towards a two-year high, with BP ahead 1.4 percent.
Retailers rallied on hopes for a last-minute rush for Christmas presents as the snow blanketing Britain continues to thaw, with DIY stores group Kingfisher up 1.7 percent.
Tour operator TUI Travel was the top blue-chip riser, ahead 2.2 percent as a easing in the severe weather conditions helped ensure travellers could get away for Christmas breaks.
''
MINERS MELT
Weak miners were the main drag on blue chips as gains in metals prices cooled after a recent rally, with Xstrata among the worst off, down 0.7 percent.
Rio Tinto shed 1.0 percent as it offered an agreed $3.9 billion to buy African-focused coal miner Riversdale in a deal expected to be challenged by rivals.
ARM Holdings was the top blue-chip faller, down 4 percent having soared 9 percent higher on Thursday on reports of a possible breakthrough move with Microsoft.
The domestic economic picture remained unsettled.
British service sector activity declined 0.4 percent in October, giving back more than half the previous month's 0.7 percent rise, data showed.
The Bank of England's executive director for markets, Paul Fisher, said in a newspaper interview that Britain's economy could suffer another period of contraction in 2011.
U.S. stock index futures pointed to a flat opening on Wall Street on Thursday with investors having a big batch of U.S. economic data to digest.
November durable goods data and the latest weekly jobless claims data were both due at 1330 GMT, with the final reading of the December Reuters/University of Michigan consumer sentiment survey out at 1455 GMT, and November new home sales data scheduled for 1500 GMT.
At 1146 GMT the FTSE 100 index was up 9.70 points, or 0.2 percent at 5,993.19, having reached a fresh 30 month peak early on at 5,999.16.
Trading volumes were just 13 percent of the 90-day average on the final full-day session before the Christmas break.
"Private investors have been pumping money into the stock market this year. If the FTSE does smash through the 6,000 barrier we might see even the most risk-averse moving their money out of savings accounts into equities," said Will Hedden, a sales trader at IG Index.
Integrated oils provided the main fuel for the blue-chip gains as the crude price climbed towards a two-year high, with BP ahead 1.4 percent.
Retailers rallied on hopes for a last-minute rush for Christmas presents as the snow blanketing Britain continues to thaw, with DIY stores group Kingfisher up 1.7 percent.
Tour operator TUI Travel was the top blue-chip riser, ahead 2.2 percent as a easing in the severe weather conditions helped ensure travellers could get away for Christmas breaks.
''
MINERS MELT
Weak miners were the main drag on blue chips as gains in metals prices cooled after a recent rally, with Xstrata among the worst off, down 0.7 percent.
Rio Tinto shed 1.0 percent as it offered an agreed $3.9 billion to buy African-focused coal miner Riversdale in a deal expected to be challenged by rivals.
ARM Holdings was the top blue-chip faller, down 4 percent having soared 9 percent higher on Thursday on reports of a possible breakthrough move with Microsoft.
The domestic economic picture remained unsettled.
British service sector activity declined 0.4 percent in October, giving back more than half the previous month's 0.7 percent rise, data showed.
The Bank of England's executive director for markets, Paul Fisher, said in a newspaper interview that Britain's economy could suffer another period of contraction in 2011.
U.S. stock index futures pointed to a flat opening on Wall Street on Thursday with investors having a big batch of U.S. economic data to digest.
November durable goods data and the latest weekly jobless claims data were both due at 1330 GMT, with the final reading of the December Reuters/University of Michigan consumer sentiment survey out at 1455 GMT, and November new home sales data scheduled for 1500 GMT.
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