The FTSE 100 is continuing its move higher in quiet trading this morning with stronger insurers providing much of the momentum.
The index was up 27 points, or 0.6%, at 4784 at 10.25am, UK time. Its modest rise mirrors gains on Germany's Dax - up 0.8% -, France's CAC 40 - up 0.6% - and the Dow Jones industrial average, which closed up 0.8% last night at 9350.1.
Traders expect a quiet day with little in the way of corporate or economic data due.
Banks continue to benefit from improving sentiment, with Standard Chartered up 1% at £13.84, Lloyds up 1% at 102.28p and RBS up 1.5% at 48.44p. Insurer Legal & General is one of the FTSE 100's top risers, up 3.9% at 76.6p. Old Mutual is up 2.3% at 91.45p and Aviva is up 2.6% at 399.3p.
The equipment testing specialist Intertek was also one of the top risers, up 24p, or 2.1%, to £11.68 after Banc of America-Merrill Lynch upgraded it to "buy" from "underperform". Shares in the company, which does safety tests for a range of industries from toymakers to aerospace, are up around 8% since its forecast-beating results earlier this month.
Moving to the fallers, software company Sage was down 1.8% to 220.9p after its US rival Intuit issued a gloomy outlook. Rival Autonomy was down 1.6% at £12.84.
Miner BHP Billiton was down 0.5% toi £15.54.5 after chief executive Marius Kloppers told a press briefing that the company did not expect to see "clean demand" for metals until early next year.
Moving to the midcaps, property website Rightmove is the top riser after it said it was confident that 2009 underlying operating profit will exceed market expectations. The shares rose more than 12% to 481p.
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