In domestic news, UK production rose by just 0.3% in November, missing the consensus forecast rise of 0.8%.
Vedanta Resources (VED) 1,185.00p -1.74%
Rentokil Initial (RTO) 90.50p -1.58%
High Street giant Marks & Spencer was lower, extending losses from yesterday after its third-quarter sales disappointed the market. The stock was taken down a peg by HSBC this morning, which downgraded its recommendation for the shares to neutral.
Tullett Prebon (TLPR) 266.80p -0.97%
However, limiting gains on stock markets this morning was Chinese inflation which rose to 2.5% in December as the cold weather resulted in an increase in food prices.
Tesco (TSCO) 350.00p -1.52%
Brown (Njapan stock market London midday Stocks rise as Japan attempts to boost growth.) Group (BWNG) 376.00p +5.03%
Laird (LRD) 238.00p +2.59%
BC
As such, mining stocks in London were firmly out of vour this morning on concerns over Chinese growthjapan stock market London midday Stocks rise as Japan attempts to boost growth,, with BHP Billiton, Vedanta, Antogasta and Rio Tinto registering losses.
Elsewhere, insurance giant Aviva was boosted by an upgrade by Citigroup to buy. Banking peers RBS, Barclays and Lloyds were also among the highest risers.
Kazakhmys (KAZ) 814.00p -1.45%
- UK production misses the mark in November
FTSE 100 - Risers
Johnson Matthey (JMAT) 2,261.00p -1.48%
While the figure remains well below the inflation target of 4%, it has raised concerns that it could lead to a tightening of monetary policy in the first half of this year, dress1721.typepad.com according to market analyst Craig Erlam from Alpari. The loosening of monetary policy appears to have been largely responsible for the improvement witnessed in the economy in the fourth quarter, he said.
Aviva (AV.) 378.30p +2.80%
Amec (AMEC) 1,Watch TV Online philadelphia school ratings.082.00p +1.69%
Barclays (BARC) 299.80p +1.77%
Kenmare Resources (KMR) 34.34p -1.60%
Sage Group (SGE) 314.70p +1.42%
Persimmon (PSN) 868.50p +2.54%
- Chinese inflation rises in December
ITV (ITV) 109.20p +1.39%
FTSE 250 - Fallers
British Airways and Iberia owner IAG was in demand this morning after UBS upgraded the stock from neutral to buy, following its underperformance against other European airline shares under the brokers coverage. We think that IAG could be the laggard most likely to outperform in 2013 should it achieve the concessions the company wants from Iberia staff, the broker said.
Oil giant Tullow was under the weather after achieving average working interest production of 79,200 barrels of oil per day (bopd) in 2012, below the forecast range of 80,000-84,000 bopped. The group also revealed that exploration write-offs more than doubled last year due to a number of unsuccessful drilling activities and licence relinquishments.
Enterprise Inns (ETI) 101.00p -1.46%
Price comparison website Moneysupermarket.com surged after saying that adjusted revenue is expected to have risen by 15% to 204.5m last year. Adjusted EBITDA is forecast to have risen 26% to 66m.
Fidessa Group (FDSA) 1,616.00p +3.46%
3i Group (III) 239.70p +2.39%
Antogasta (ANTO) 1,shunli494.typepad.com.298.00p -1.82%
FTSE 250 - Risers
FirstGroup (FGP) 191.10p -4.40%
Reed Elsevier (REL) 660.00p +1.69%
Vesuvius (VSVS) 374.60p -1.19%
FTSE 100 - Fallers
Rio Tinto (RIO) 3,450.00p -1.75%
Cranswick (CWK) 876.50p -1.52%
Tullow Oil (TLW) 1, tumour4774.typepad.com158.00p -5.47%
Electra Private Equity (ELTA) 1,995.00p -0.80%
Dairy Crest Group (DCG) 401.00p -1.13%
Burberry Group (BRBY) 1,323.00p +1.93%
Ophir Energy (OPHR) 544.50p -3.20%
Moneysupermarket.com Group (MONY) 167.50p +5.81%
Financial stocks were performing well this morning with asset management firms given a lift by Credit Suisse. The Swiss broker said that the recent improvement in the macro backdrop should drive investor appetite which bodes well for the asset managers. It upgraded Schroders to neutral and maintained its outperform recommendation for Aberdeen.
In other news, German economic growth went into reverse in the fourth quarter due to weak demand from the Eurozone, according to a statement from the countrys Ministry of Economics published today.
Marks & Spencer Group (MKS) 362.70p -1.65%
Henderson Group (HGG) 142.90p +3.93%
InterContinental Hotels Group (IHG) 1,775.00p +1.43%
Centamin (DI) (CEY) 56.65p +10.75%
TalkTalk Telecom Group (TALK) 240.80p +3.13%
Randgold Resources Ltd. (RRS) 5,865.00p -1.43%
Markets were small gains on Friday morning as hopes for the Japanese economy offset concerns about price rises in China and a downbeat reading of UK production.
Aberdeen Asset Management (ADN) 386.90p +1.79%
LONDON (SHARECAST) - - Japan launches new stimulus package
News from Japan had boosted sentiment in morning trade, where newly-elected Prime Minister Shinzo Abe has unveiled a 10.3tn-yen stimulus package, aimed at raising economic growth by 2% and creating 600,000 new jobs. The plan shows a clear commitment to economic revitalization, Abe said at a conference in Tokyo.
BHP Billiton (BLT) 2,074.00p -2.72%
Gold miner Centamin continued to rise after its fourth-quarter production results on Wednesday, in which it beat output guidance by 5%. Liberum Capital labelled the stock as a compelling buy this morning. The shares have now risen by over a third in the last five days.
Supergroup (SGP) 573.00p +4.95%
International Consolidated Airlines Group SA (CDI) (IAG) 204.60p +3.91%
