Mining stocks came to the rescue of the market today, after shares seemed to be heading lower in early trading.
Antofagasta was the main catalyst, up 28p to 594.5p after the company told shareholders at its annual meeting that it expected the copper price to remain firm in the foreseeable future, and it expected 2007 to be another good year for the company.
Rivals were also wanted, with Rio Tinto climbing 161p to £37.21 in the wake of a buy note from ABN Amro. The company has also joined BHP Billiton, up 34p to £13.25, and others in declaring force majeure on Australian coal sales in response to delays caused by storms battering the east of the country.
Xstrata rose 138p to £30.07 after positive noises from Citigroup.
Elsewhere Royal & Sun Alliance added 5.5p to 155.9p on revived takeover talk, with US giant AIG one name mentioned. AIG has been said for a while to be interested in a UK acquisition.
The mood generally was still uncertain, but an opening rise on Wall Street helped the optimists. By the close the FTSE 100 had risen 39.2 points to 6559.6.
Among the fallers Johnson Matthey, the platinum specialist which has turned in a strong performance in the past couple of days, fell back 37p to £16.58 as it went ex-dividend.
Water group Kelda was also lower, off 13.5p at 948.5p. A note from Collins Stewart said the sector was too expensive given regulatory risk and a couple of forthcoming reports from the Competition Commission and Ofwat could have a bearish effect on shares. It said Kelda was 12% too expensive and set a 860p price target.
Cruise group Carnival reversed earlier rises, falling 6p to £25.43 as traders said Citigroup was placing 1.8m shares at £25.23 each.
Among the risers supermarket group J Sainsbury added 8.5p to 559.5p on speculation that a Qatari investment group was planning to increase its 17.4% stake. Last night the governments of Qatar and Dubai were said to be setting up a joint firm to buy shares in global companies and build an investment portfolio.
Pub owner Mitchells & Butler climbed 11.5p to 853.5p after JP Morgan upgraded from underweight to neutral.
The same bank pushed up technology groups Arm Holdings, 6.25p higher at 140.75p, and CSR, up 17.5p to 744.5.
Lloyd's of London insurer Beazley was a major riser among the mid-caps, up 5.25p to 144p after Fox-Pitt analysts raised their recommendation from in line to outperform.
But waste group Biffa continued its decline after yesterday's figures, down another 7p to 286p after Lehman downgraded from overweight to equal weight and cut its price target from 350p to 310p.
Barclays was steady at 733.5p despite reports the bank may consider a cash sweetener to help it win its battle for Dutch group ABN Amro, but mortgage bank Alliance & Leicester was 14p better at £11.18 after an upbeat trading statement and news that finance director David Bennett will take over as chief executive next month. Cazenove analysts told clients they were reassured by the statement.
Elsewhere television producer ITV lost 1p to 113p after Merrill Lynch downgraded from neutral to sell.
Lower down the market uranium producer UraMin dipped 6p to 371p awaiting bid developments. French nuclear group Areva has admitted it is in talks with the company. Traders are hoping for a 400p-plus offer for each UraMin share.
Dentist group Oasis Healthcare finally accepted a bid, worth 82p a share from private equity group Duke Street Capital. In the market Oasis jumped 15p to 85.5p as its largest shareholder, ADP Healthcare which trades as Associated Dental Practices, said it may make a counter offer.
Electric vehicle group Tanfield slipped 1p to 152p despite announcing it had won its first contract from the Royal Mail to supply zero emission vehicles.
But oil and gas group Sefton Resources slipped 1.375p to 4.875p after it revealed new estimates which showed its reserves were down from $74m to $64m. It is talking to banks and possible joint venture partners about raising new funds.