UK stocks : FTSE 100 adds 0.4 pct
impending fiscal cliff," said David White, Financials Trader at Spreadex.
"What investors must consider carefully, however, is how the market will react to the news. The extent by which the market jumps higher on any firm deal will likely be in part a function of recent performance, potentially dampening any upside with an already optimistic market," White added.
Away from commodities, G4S gained 2.7 percent with traders citing the impact of a broker upgrade as well as a Financial Times report saying the security firm is set to win a role in implementing the government's contentious and complex changes to welfare payments.
Panmure Gordon raised its rating for G4S to "buy" from "hold" with an increased target price of 295 pence, up from 262 pence, which is broadly in line with the peak seen before the the stock tumbled after the company failed to provide enough guards at the London Olympic Games this year.
VODAFONE VULNERABLE
Fresh falls by market heavyweight Vodafone, down 1.1 percent, was again the main drag on the blue chips, with the stock extending Monday's 1.7 percent decline and knocking nearly 4 points off the index on concerns about higher costs for mobile operators after the Dutch state raised much more than expected in its auction of fourth generation (4G) frequencies.
"We doubt other remaining European auctions will reach Dutch levels, but to be conservative we have raised our forecast for Vodafone spectrum payments to 9.25 billion pounds (from 8 billion pounds)," over fiscal year 2013 to 2016, Credit Suisse said in
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