- The FTSE 100 remained in positive territory, supported by utility and mining stocks.

Miner BHP Billiton (BLT) rose 2.5% to £16.43 followed by Rio Tinto (RIO), up 1.6% at £41.06.

United Utilities (UU.) added 1.1% to 759.5p and Severn Trent (SVT) was up 0.8% at £19.45.

The FTSE closed 0.4% higher at 7,537.

In the US, investor sentiment recovered with the tech-heavy Nasdaq leading the charge, up 0.2% at 7,549 around 5pm UK time.

Brent crude oil gained 1.3% to $75.71 per barrel.


Satellites network operator Inmarsat (ISAT) lost 12.5% to 553.2p after Eutelsat decided it was no longer considering a takeover bid, less than a day after considering one.

Oil services company Petrofac (PFC) revealed a 5.9% rise in new order intake and said it was trading in line with expectations thanks to higher demand. Investors took profit following the company's strong share price run as the stock retreated 1.7% to 527.2p.

Silver producer Polymetal (POLY) launched its Kyzyl mine in Kazakhstan ahead of schedule and below budget, pushing the shares 1.6% higher to 669.4p.


Embattled Carpetright (CPR) tumbled into the red in the year to 28 April as underlying sales continued to fall. The floor coverings retailer blamed warm weather and stock shortages for the underwhelming trading. The stock shed 5.7% to 28.3p.

Exhibitions company ITE (ITE) fell 6.6% to 80.9p but this reflected the share price adjusting to a big rights issue to fund ITE's purchase of certain assets from Ascential (ASCL).

Cluff Natural Resources (CLNR) confirmed it is currently considering additional funding by issuing new shares to accelerate the development of its enlarged portfolio of assets. This was not welcome news for the market as the shares dropped 12.8% to 2.1p.

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