1016: Mining stocks are doing their bit to push the top-share index higher, as metal prices head higher on the futures markets. Vedanta, Antofagasta and ENRC are the best performers in the sector. It has been a busy morning for corporate updates, and most of the big names reporting have received a positive welcome. Aviva and Morrisons are both wanted after their full year figures while among the FTSE 250 constituents pumps specialist Spirax-Sarco Engineering is steaming ahead after 2011 numbers topped expectations. Top honours among second tier players, however, go to polymers firm Fenner, after a sparkling set of interim results.
1000: The Footsie is now trading a whole percentage point higher ahead of the policy decisions from the BoE and ECB due out in a few hours’ time, both of which are expected to see the central banks maintains rates. ARM Holdings is a high riser after Apple – which uses some of its technology in its gadgets – unveiled its new-and-improved iPad last night. Morgan Stanley has this morning upgraded ARM from equal weight to overweight. Also feeling the effects of a broker upgrade is Petrofac after JP Morgan Cazenove raised its rating from neutral to overweight and lifted its target price. FTSE 100 up 58 at 5,850.
0858: London has opened on the front foot as markets await news from Greece. FTSE 100 is up 34 at 5,826. Asset manager Schroders is not joining in the advance, however, after it announced that chairman Michael Miles is to stand down. The Chief Investment Officer, Alan Brown is also giving up his role and stepping down from the board, though he will remain with the company. operating as a senior adviser.
0830: UK stocks have risen strongly in early trading on a pivotal day for Greece. It will be announced later on tonight whether the country has received enough acceptances for its debt-swap deal, something which the Greek finance ministry is confident in achieving. Bloomberg has currently pinned the participation rate at around 60%, while Greek officials remained optimistic that it will surpass the 75% mark. FTSE 100 up 35 at 5,827.