The FTSE 100 crept higher for an 11th straight session on Monday putting it on course to set a new record winning streak - albeit in thin trading and in defiance of falls elsewhere around the world and a gloomy economic backdrop.
The index of leading London-listed shares bounced around the unchanged mark in choppy summer trading and ended just inside positive territory, up 9.5 points, or 0.2%, at 4,586.1.
The index has risen 459 points, or 11%, since this rally kicked off on July 13. The winning streak equals a run from December 2003 into January 2004 and another 11-day series in April and May 1997.
Whether the market can keep squeezing out gains on Tuesday and clock up a record-breaking 12 days of rises could well depend on pressures from both corporate news and economic data. Heavyweight BP is due to report first thing and the CBI's latest retail sales survey is due out later on.
On Monday, the few traders not on summer break seemed determined to push the index up. The UK market managed to shake off selling pressure emanating from the US where Wall Street had a lacklustre start thanks to more gloomy company news. Verizon Communications posted lower quarterly profits and announced thousands of jobs would be axed. Health insurer Aethna added to the gloom by cutting its earnings outlook.
In the UK, the FTSE 100's biggest faller was Rexam. The shares shed 39.25p, or 12.1 %, to 284.5p after the world's largest drinks can maker admitted trading had not improved since the first quarter and that it was considering a rights issue.
Property companies were also under pressure after analysts at rating agency Standard and Poor's highlighted falling rents and general economic gloom around Europe. Land Securities lost 19.5p, or 3.8%, to 489p, Liberty International fell 3.1% to 422.25p, Hammerson dropped 3.3% to 325.5p and British Land fell 2.2% to 408.5p.
Sticking with the fallers, Ryanair's downbeat outlook rocked rival airlines around Europe and British Airways lost 4.6p, or 3.4% to 132.3p.
Further down the market, fantasy gaming group Games Workshop enjoyed a 16.4% leap - a rise of 45p to 315p - ahead of its results out on Tuesday. The rise put the shares at their highest since September 2007.
The company already guided the market in June that profits are "likely to be ahead of market expectations."
Set top box maker Pace lived up to market expectations on Monday and delivered news of a surge in profits and lucrative new customers. Its shares ended down 3.25p at 197p.
Back on the FTSE 100, publisher Pearson was the top riser as it kicked off a busy week for corporate news with a positive first-half update. That lifted the shares 73p to 679p and spread a little cheer to the rest of the media sector with advertising group WPP up 11.25p to 461.25p and publisher Reed Elsevier up 4.25p at 485.5p.
Also reporting on Monday, National Grid said it still expects to deliver a strong performance in 2009/10. Its shares edged up 1.5p to 564.5p.
Finally, Wolseley, the building supplies company, managed to add 19p to £12.20, despite predicting that "market conditions will continue to deteriorate with trading remaining challenging until at least the end of the calendar year."
