The headline index was modestly higher in early deals today, with investors buoyed by news of a Greek bailout agreement by the EU and IMF. RBS topped the early leaderboard after a UBS upgrade.
In early trade, the FTSE100 was up 27.2 points at 5,813,92 with the FTSE250 ahead 38.8 points at 11,882.4 and the FTSE Smallcaps slightly better at 3,246.24.
US & ASIA
In the US last night, the Dow fell 43 points at 12,967, the Nasdaq rose 10 points at 2,977 and the S&P500 lost 3 points at 1,406.
In Asia today, the Nikkei closed up 34 points at 9,423, while the Hang Seng fell 18 points at 21,844.
LONDON MARKETS
Markets gave a cautious welcome to news of a deal to solve the Greek debt problem. The devil may yet be in the detail.
The latest UK GDP reading will be published later this morning, with many analysts anticipating a downward revision.
Banks bounced back today as the Greece deal settled nerves, with Royal Bank of Scotland the pick of the crop, jumping 11.15p at 296.25p, additionally lifted by an upgrade at UBS. Lloyds gained 0.93p at 46.03p and Barclays rallied 3.28p at 243.78p.
Insurers followed the trend, with Aviva advancing 6.4p at 348.3p and Prudential 5p higher at 887.5p.
Amongst the miners, Xstrata added 7p at 1,023.5p on news its Antapaccay copper mine in southern Peru has delivered its first shipment to Matarani Port for delivery to customers worldwide.
Elsewhere, Rio Tinto rose 28p at 3,022p and BHP Billiton gained 17.25p at 1,963.75p as base metals prices improved.
A tick-up in crude prices supported modest gains for the oil producers, with BP ahead 2.33p at 433.68p, Shell up 2p at 2,157p and Tullow Oil 8.5p better at 1,374.5p.
Pharmaceutical stocks were in demand, with AstraZeneca up 13.75p at 2,893.75p, GlaxoSmithKline ahead 10.25p at 1,340.25p and Shire 22.5p higher at 1,793.5p.
Waste and water company Severn Trent said it was broadly in-line in the first half-year and expects full-year results to meet expectations. However, the shares eased 3.5p at 1,552.5p, while peers United Utilities and Pennon Group added 3.25p at 672.75p and 4.5p at 609.5p, respectively, on the read across.
On the limited downside, fund manager Aberdeen Asset Management eased 0.95p at 335.05p, while broadcaster ITV was the worst blue chip of the morning, down 1.05p at 95.8p.
