The FTSE100 was up 23.5 points at lunchtime standing at 6,060.4 with the FTSE250 68.2 points up at 10,024.8 and the FTSE 350 7 points higher at 3,664.5.

Volume was ok with 1,039.7 million shares changing hands in 125,039 deals.


Oil prices moved higher in lunchtime deals, after plummeting more than $2 yesterday, as persistent supply risks in key producers like Iran brought an end to the heavy losses that followed the recovery in US gasoline stocks, traders said. June crude futures rose 51 cents to $70.45 on Nymex.


Today’s look at individual Stocks:


The banking sector provided us with Friday excitement this morning, with Alliance & Leicester surging nearly 10% up 102p to 1,224p, on reports that Spanish bank Banco Santander Central Hispano is in 'exclusive talks' to acquire the company in a deal reputed to be worth more than £6.5 billion. Alliance & Leicester is thought to have indicated to potential suitors that it would accept an offer of around £6.7 billion, or 1,500p per share.
Brokers were still sceptical however, with WestLB and Merrill Lynch both reiterating sell recommendations.


The news also lifted the rest of the banking sector, with Lloyds TSB gaining 5.5p to 536.5p, Northern Rock up 19p to 1,119p and Bradford & Bingley up 25.75p to 524.25p.


Mining stocks were in demand again! as copper and gold futures continued higher, adding to yesterday's strong gains amid ongoing supply concerns.

Antofagasta climbed another 54p to 2,510p, Anglo American was up 59p at 2,459p, Xstrata was up 49p to 2,196p, and BHP Billiton climbed 10p to 1,179p. This sector is defiantly one to be investing in.


3i Group was up 27.5p to 921.5p, after Merrill Lynch added the venture capitalist group to its Europe One list, saying the shares appeared undervalued at current levels. This stock is currently a buy.


Vodafone was given a buy recommendation by Citigroup the stock rose 1.25p to 127p. Talk that the UK mobile giant is looking to seize control in Vivendi's SFR also did the rounds, as did renewed rumours of its Verizon Wireless stake disposal.


Enterprise Inns was up 28p at 973.5p after another broker’s recommendation. UBS raised its price target for the pubs group to 1,150p from 1,110p as it stuck to its buy advice.


Down today was ICI dropping off 5p to 390p on profit-taking after yesterday's post-results rally, while recent disappointing numbers from US household good group Procter & Gamble weighed on Reckitt Benckiser, down 22p to 1,959p.