Xstrata was also in big demand early on after revealing better-than-expected operating EBITDA of $7bn in the year to end-December 2009 and resuming its dividend. However, the attraction was short-lived and the shares lost 13.6p at 936.4p as the market turned.

Others in the sector were in worse shape, with Vedanta Resources the biggest loser, off 65p at 2,254p and Antofagasta 18p lower at 808.5p.

Oil producers gave up any semblance of a rally as crude remained around the $71 a barrel level, with Shell falling 2.5p at 1,653p and BP off 3.5p at 556.5p.

Explorer Tullow Oil fell 28p at 1,129p, despite confirmation that ENI International has terminated its agreement with Heritage in Uganda after Tullow's exercise of a pre-emption right, making progress on a deal appear easier.

Power companies were buoyant, with International Power jumping 7.5p at 321.4p in reaction to weekend press reports that GDF Suez may make an improved offer. Drax was up 1.7p at 409.2p and National Grid 3.5p higher at 630p.

Household goods conglomerates Unilever and Reckitt Benckiser made strides higher, up 13p at 1,831p and 6p at 3,136p, respectively.

Cigarette makers were to the fore as their defensive qualities came into play, with BAT ahead 36p at 3,090p and Imperial Tobacco 21p higher at 2,047p.

The drinks industry was also well represented on the leaderboard, with Diageo gaining 9p at 1,009p and SABMiller 21p better at 1,671p.

Other notable winners at midday included satellite operator Inmarsat, ahead 17p at 724,5p and chocolatier Cadbury, up 6.5p at 839.5p.

Story provided by Business Financial Newswire