(MENAFN- ProactiveInvestors) The top-share index trod water in the afternoon session after the Bank of England’s inflation report.
The central bank upgraded its view on both inflation and the growth in gross domestic product (GDP) lifting the two-year inflation forecast to 1.96% from its November forecast of 1.8%. GDP growth for 2015 is now projected to be 2.9% up from the previous forecast of 2.7%.
The FTSE 100 index was up just 10 at 6828 despite risers outnumbering fallers among its constituents by almost two-to-one.
Index heavyweights and going ex-dividend today did not help the blue-chip index and neither did BT's () plans to raise a billion quid through a share placing.
Spirits colossus () was off 22p at 1862p after Goldman Sachs – previously neutral on the stock – turned bearish.
Fizzy drink bottler Coca-Cola HBC (LON:CCH) which has exposure to Russia and Ukraine topped the Footsie leader board rising 68p to 1159p after the two nations agreed a ceasefire.
UK drug maker Shire () was among the top risers on Footsie rising 221p to 4997p as it unveiled record revenues for last year and said it was entering 2015 with its strongest ever pipeline.
Miner () was another strong performer rising 2.3% to 3039p.
The commodities giant announced a US$2bn share buyback on top of a bigger-than-expected dividend despite underlying earnings of US$9.3bln in 2014 which were 9% lower than 2013.
All stocks had to pay homage to () however which shot up 85% to 2.125pp making it the market’s best performer as it said one of three remaining holes drilled on its Hot Maden prospect in eastern Turkey returned bonanza grades of copper and gold.
Explorer Rare Earth Minerals () has called on (CVE:BCN ) shareholders to appoint David Lenigas to the Bacanora board.
Lenigas is the chairman of Rare Earth Minerals (REM) which is a joint venture partner of and 12% stakeholder in Bacanora.Bacanora shares jumped 27% to 52.5p.
’s () shares went on a surge after it revealed it has commissioned its mobile gas turbine power plant at Port Hedland Pilbara Western Australia.
The plant features four state-of-the-art GE TM2500+ aero-derivative turbines running on clean-burning natural gas. The facility can be rapidly expanded by an additional two turbines as capacity requirements grow the company said.
Shares rose by around a quarter to 308.5p.
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