FTSE 100 closed in positive territory, up around 16 points, but miners sagged.
The blue-chip benchmark finished up 0.21%, 16.39 points at 7,731, while FTSE 250 was also higher - up 16 points at 20,671.
The US was having a changeable session, with the S&P 500 up 0.95% at the time of writing and the Dow Jones down 0.09%.
The pound is down 0.21% against the Euro and off 0.04% against the US dollar.
In companies low cost carrier easyJet (LON:EZJ) was top gainer on Footsie, up 5.12% to 1,643.5p after an upbeat trading statement this morning.
Revenue and passenger numbers increased by 14.4% and 8% respectively.
"The demise of Air Berlin and Monarch Airlines, combined with the major disruption caused by Ryanair's flight cancellation fiasco helped the company," said David Madden, at CMC Markets.
On the losing front, silver giant Fresnillo (LON:FRES) was the biggest loser, down 4.2% to 1,335p. All five of the top Footsie losers were mining stocks.
Heading toward the final half-hour of trading the FTSE 100 had moved to a slightly lower perch but was still holding on to gains.
The FTSE 100 was up 14 at 7,729, while the mid-cap FTSE 250 was up 24 at 20,679.
N Brown, the retailer that makes clothes predominantly for women of a certain age and a certain size, was the day's main mid-cap casualty, sliding 15% to 237.4p after its Christmas trading update.
The retailer is experiencing a slow-down in the growth of sales, despite spending more on marketing - which is having an impact on margins.
Spread betting firm IG Group Holdings (LON:IGG) and Marston's plc (LON:MARS), the brewer and pUBS owner, both found the market hard to please after issuing trading updates.
IG was marked down 5p to 778.5p and Marston's saw its stock slide 1.43p to 113.17p.
In contrast, buy-to-let mortgage specialist Paragon Banking Group PLC (LON:PAG) moved 7.5p higher to 506p after its trading update.
US stocks opened modestly higher as investors focused on the fourth quarter earnings seasons.
The Dow Jones was up 22 at 26,237 and the broader-based S&P 500 was 6 points firmer at 2,839.
Back in Blighty, the FTSE 100 was up 20 at 7,735 and has been trading sideways all afternoon.
Smith & Nephew PLC (LON:SN.) became the latest FTSE 100 company to update on the likely effect of the recently enacted tax reform legislation.
Smith & Nephew now expects a corporate tax rate on trading results in the range 20% to 21% for the medium term, barring any changes to tax legislation or other one-off items; this is a reduction of four to five percentage points on the medtech's previous guidance of around 25%.
The shares rose 2% to 1,260.5p on the news.
No-frills airline easyJet PLC (LON:EZJ) remained the pick of the airline sector after its upbeat trading statement this morning but British Airways owner IAG (LON:IAG) was going well after it learnt that its bid to acquire the assets of insolvent airline NIKI was unsuccessful.
IAG shares were 1.8% higher at 662p after it was announced the founder of the airlines, former Formula One motor racing world champion Niki Lauda, had placed the highest bid.
The FTSE 100 was recovering from a brief swoon, caused by a stronger dollar that had miners on the run.
Having dropped below 7,720 shortly after 11.30, the FTSE 100 was trading at around 7,739, up 24 points on the day and just a handful of points off its high for the day.
Spread betting quotes currently point to an indecisive opening in the US.
The top spot on the Footsie's greasy pole continues to be occupied by easyJet PLC (LON:EZJ), helped by RBC upgrading the stock to 'outperform' from 'sector perform' by RBC Capital Markets following the airline's trading update this morning.
RBS increased its price target from 1,450p to 1,700p; the stock currently trades at 1,633p, up 4.5% on the day.
Away from the blue-chips, Kimberly Enterprises NV (LON:KBE) was comfortably the top riser on the market, after almost tripling in value.
The Central and Eastern European property developer is seeking to delist from Aim and is seeking the approval of shareholders to do so, on January 25.
Trailing in a distant second was Altyn PLC (LON:ALTN), the gold producer, which was 23% higher at 1.6p after major shareholder African Resources said it would convert roughly US$9.72mln of convertible bonds into 233.3mln Altyn shares at 3p a share.
With US indices breaking new ground yesterday the FTSE 100 was making a half-hearted attempt to follow suit.
The FTSE 100 was up 26 at 7,741, just over 50 points shy of its record closing level.
Marketing giant WPP PLC (LON:WPP) was missing out on the good times, however, sliding 30.5p to 1,328p after Credit Suisse and Goldman Sachs gang-tackled the stock.
Accenture, WPP, Dentsu and Next 15 were active acquirers in 2017, with digital content and creative agencies featuring strongly. https://t.co/BErfr38lTN pic.twitter.com/cxy5WiG6SK
- Kingston Smith Tech (@KSTechnology) January 23, 2018The Swiss bank downgraded WPP to 'neutral' from 'outperform' and trimmed the target price from 1,500p to 1,440p, while the "vampire squid" also moved to a neutral position (from 'buy') and slashed its target price from 1,830p to 1,470p.
Goldman also had its knife out for Daily Mail and General Trust PLC (LON:DMGT) and Rightmove PLC (LON:RMV), both of which have been downgraded to 'sell' from 'neutral'.
Regarding DMGT, Goldman Sachs expects headwinds from weaker UK advertising spend and softer end-markets for business-to-business will constrain growth.
Rightmove is downgraded because it believes its current premium earnings multiple is not justified by growing challenges in its markets.
DMGT was down 4p at 607.5p and Rightmove was off 45p at 4,345p.
Despite a weak showing from the heavily-weighted mining sector, the Footsie was sitting on solid gains mid-morning.
The FTSE 100 was up 14 at 7,729, despite losses of more than 2% on miners such as Fresnillo PLC (LON:FRES), Anglo American PLC (LON:AAL) and Glencore PLC (LON:GLEN).
Low-cost airline EasyJet PLC (LON:EZJ) continued to top the Footsie leader-board, rising 5.4% after the trading update covering its fiscal first quarter was more upbeat than expected.
"It is pushing up ticket prices, carrying more passengers and getting them to spend more money on ancillary revenue, which covers items like baggage fees and paying to book a specific seat on a plane," noted Russ Mould, the investment director at AJ Bell.
"Importantly, costs are only going up by a small amount so the airline should enjoy a decent uplift in profit. It's no wonder investors are scrambling to buy the shares today," he added.
Yesterday's star performer, NMC Health plc (LON:NMC) was on the rise again today, adding 120p to yesterday's gains; it now trades at 3,480p.
The stock rose yesterday on the back of two acquisitions in the United Arab Emirates and the Kingdom of Saudi Arabia.
The share price of pay-TV pioneer Sky PLC (LON:SKY) was provoking some head scratching. The stock was up 2.7% at 1,030.5p, despite the provisional findings of the UK Competition and Markets Authority's (CMA) review of the proposed acquisition of Sky by Rupert Murdoch's 21st Century Fox.
On the plus side, the CMA adjudged that the transaction is not likely to operate against the public interest of broadcasting standards ground, but on the other hand, the CMA did take the view that the takeover might be expected to operate against the public interest on media plurality grounds.
The upshot would seem to be that if Disney's acquisition of a controlling stake in Fox goes through then so will Fox's acquisition of Sky.
The FTSE 100 found some positive momentum as it nudged nine points higher to 7,724.87 following the short-lived government shutdown in the US.
Here in the UK, easyJet (LON:EZJ) was flying higher as it rose 5% to top the risers' list on the blue-chip index.
This came in the wake of an upbeat trading update which revealed the budget carrier had been boosted following the demise of some of its rivals.
British Airways owner International Consolidated Airlines (LON:IAG) followed in easyJet's vapour trail as it rose 1.9% early on.
Advertising giant WPP (LON:WPP) was the market's main casualty, sUBSiding 2.9% following downgrades by City heavyweights Goldman Sachs and Credit Suisse.
The former also moved to 'sell' on stock in the property website owner Rightmove (LON:RMV), which fell 1%.
Remote meetings technology firm LoopUp Group PLC (LON:LOOP) topped market expectations with its performance last year as revenues and profits soared in 2017. The markets had been expecting as much given after LoopUp reported solid first-half results back in September and said the strong performance had continued into the second half. Big Pic in July.
Marketing automation platform operator dotdigital Group PLC (LON:DOTD) traded in line in the second half of 2017, with strong growth in revenues. Big Pic in July.
An independent study has shown a sweetener developed by OptiBiotix Health plc (LON:OPTI) scored well against competitors. The Flavour and Sensory Science Centre at the University of Reading and tested eight different samples. It found Opti's oligosaccharides were significantly sweeter than the other products tested. Big Pic in December.
SDX Energy Inc (LON:SDX, CVE:SDX) has unearthed a new gas discovery onshore Morocco, in the ONZ-7 well at the Sebou project. The ONZ-7 well was drilled down to a depth of 1,167 metres and uncovered 5 metres of net conventional gas pay, in the Hoot formation, which as the company highlighted, was found to be "on prognosis". Reservoir quality was seen to be better than the company expected. Big Pic in November.
Sound Energy PLC (LON:SOU) told investors that it has now received the final results of resource certification, relating to the TE-5 well core, and the findings are "entirely consistent" with preliminary results announced to the market in December. Also, Sound chairman Stephen Whyte has stepped down, and replaced immediately by Richard Liddell, as Whyte plans to spend more time on his non-executive director roles elsewhere. Big Pic in October.
Tlou Energy Ltd (LON:TLOU) has updated investors on its coal bed methane operations in Botswana, as it provides a quarterly report, highlighting a number of project milestones. Big Pic in July.
Base Resources Ltd (LON:BSE) has completed its acquisition of the Toliara Sands project in Madagascar. A US$75mln down payment has now been made, taking Base's stake up to an initial 85%. It will acquire the final 15% on the completion of certain milestones. Big Pic in August.
A quarterly update from Berkeley Energia Ltd (LON:BKY) highlighted that the company is now very close to initiating construction at its Salamanca uranium mine in Spain, following completion of a US$120mln fundraising. Shareholders overwhelmingly approved the raise, and US$65mln is already in. Big Pic in August.
Metal Tiger PLC (LON:MTR) has sold half its stake in Kingsgate Consolidated (ASX:KCN) after a proxy fight. However, Metal Tiger still retains just over 5% of Kingsgate and has said that it's "not going away" and that it will be watching the Kingsgate board "closely" to see if it delivers on its promises. Big Pic in July.
Emerging markets investor APQ Global Limited (LON:APQ) has raised ?10mln from a tranche of 3.5% convertible unsecured loan stock repayable in 2024. Big Pic in January.
Tharisa PLC (LON:THS) has said, further to the announcement made on 11 January 2018, its shareholders are advised that the dividend declared will be paid out of income reserves and may therefore be subject to dividend withholding tax depending on the tax residency of the shareholder.
Capital Networks has issued a research note on Northbridge Industrial Services Plc (LON:NBI) which argues that the group's valuation in terms of price/book gives an indication of the potential upside in the future event of a recovery in the demand environment.
Capital Networks has issued a research note on Diploma PLC (LON:DPLM) in which analysts Ed Stacey argues that the business services supplier is well placed to continue delivering shareholder value.
Capital Networks has issued a research note on Morgan Sindall Group PLC (LON:MGNS) in which analysts Ed Stacey argues that given the group's strong, balance sheet, continued earnings growth, and healthy dividend payout, the current P/E valuation of 12.1x 2017e represents a modest valuation.
The FTSE 100 is seen rallying in early trading on Tuesday, reflecting fresh record gains by US Markets after the Senate agreed a temporary deal to end a Federal shutdown.
Spread betting firm CMC Markets expects the UK blue chip index to open around 21 points higher at 7,736 having lost 15.35 points on Monday.
On currency markets, after strong gains yesterday sterling held steady versus both the dollar and the euro awaiting a batch of UK data.
Today's UK public sector borrowing numbers are expected to fall from ?8.1bn in November to ?4.2bn in December as the current Chancellor, Philip Hammond looks to stay on target with respect to this year's borrowing targets.
Meanwhile attention in the latest CBI surveys is likely to be on the business optimism number which was a disappointing -11 last month.
A first quarter trading update from low-cost airline easyJet PLC (LON:EZJ) will be the main corporate focus today.
The FTSE 100 listed firm's shares are up over 15% in the last three months, in response to improving market conditions.
The demise of Air Berlin and Monarch - the former now part of easyJet - has taken some capacity out of the market, but countering this the cost per seat (excluding fuel) at constant currency has been on the increase, rising 0.9% to ?38.69 in the year to 30 September 2017.
Revenue trends in the first quarter of the current financial year were said to have been encouraging, according to a paragraph in the company's full year results statement.
Elsewhere interim results from mid cap spread betting and CFD trading firm IG Group PLC (LON:IGG) are expected to be solid, with analysts at Numis Securities forecasting a 9.4% increase in first half revenue to ?268.4mln, with first quarter trading having been particularly strong.
Despite the impact of the reviews from UK regulator, the FCA and its European peer, ESMA still being unknown, the Numis analysts expect IG's first half dividend policy to be held at 0.3 times the prior year full year payout as the group's balance sheet remains very strong.
Trading updates: easyJet PLC (LON:EZJ), Cairn Energy PLC (LON:CNE), Marston's plc (LON:MARS), N Brown Group PLC (LON:BWNG), Paragon Group PLC (LON:PAG), Pets at Home PLC (LON:PETS), SSP Group PLC (LON:SSP)
Interims: IG Group PLC (LON:IGG)
Finals: Benchmark Holdings PLC (LON:BMK), Harwood Wealth Management Group PLC (LON:HW.), Lakehouse PLC (LON:LAKE), Velocity Composites PLC (LON:VEL)
Economic data: UK public sector finances, CBI industrial trends survey; Richmond Fed manufacturing index