Morning Markets: quietly firm ahead of US GDP figures

Share prices make a quietly firm start to the day, sentiment still buoyed by encouraging corporate trading news, which underpinned Wall Street overnight.

All eyes will focus on the US GDP figures this afternoon, and investors are likely to keep a low profile until then.

By 8.45am the FTSE 100 index was three points firmer at 5,681 and the Mid-250 index 10 points better at 10,860.

Prudential headed the list of major risers at 640p, up 9p, following the successful debut of AIG in Hong Kong.

Aviva, with an update next Tuesday, rose 4.5p to 397.2p.

BP recouped 5p to 428p drawing comfort from criticism of Halliburton, its partner in the Gulf of Mexico oil disaster.

Other oils favoured included Cairn Energy at 393p, up 5p and BG Group 16p higher at £12.06, ahead of figures next week, whileRoyal Dutch Shell put on 15p more to £19.77 as analysts warmed to yesterday's buoyant update.

Among firmer banks Royal Bank of Scotland hardened 0.32p to 44.87p as it prepared for the disposal of its insurance division and favourable comment supported food retailers where Tesco at 429p and Sainsbury 390p perked up around 3p.

British Airways shed 2p to 279p in spite of returning to profit, prompting a buy note from Bank of America, but WPP Group edged up 2p to 720.5p after an positive update.

Smith & Nephew dipped 8p to 553p as US competitor Zimmer cut its full-year sales guidance.

Mining stocks eased back with Rio Tinto 54p lower at £40.52.

Among the Mid-Caps Hikma Pharma stood out with a jump of 39p to 775p in the wake of a US acquisition and an upbeat profits forecast boosted Hunting 23p to 626p.

Yesterday's cautious statement continued to overshadow Premier Foods at 17.64p, off 0.39p