Headline shares are were modestly higher in early deals, with mining shares heading the gainers and insurers Aviva (LON:AV.) and RSA active, and with British Airways (LON:BAY) in demand on news that an airport strike has been averted. At 8:30am, the FTSE 100 was up 25.62 points at 5,301.72 with the FTSE 250 ahead 38.54 points at 9.812.77 and the FTSE Smallcaps 1.26 points lower at 2,778.63. In the US last night, the Dow lost a point at 10,302, the Nasdaq Composite rose 8 points at 2,182 and the S&P500 was unchanged at 1,079. In Asia today, the Nikkei closed off 35 points at 9,161, while the Hang Seng was recently up 20 points at 21,132.

LONDON MARKETS

Investors in London displayed some caution in early trade, ahead of the latest UK inflation figures due out at 9:30am. Mining shares underpinned early gains as metals prices firmed, with copper miner Antofagasta (LON:ANTO) leading the charge, up 19p at 1,022p. Kazakhmys (LON:KAZ) rose 18p at 1,194p, Anglo American (LON:AAL) improved 23p at 2,432p and Rio Tinto (LON:RIO) gained 28.5p at 3,335.5p. Shell and BG Group (LON:BG.) benefited from a slight recovery in the price of crude oil, up 10p at 1,713p and 6.5p at 1,029.5p, but BP (LON:BP.) continued to look fragile, easing 1.2p at 408.55p and falling to the foot of the table, on reports it is to raise $5bn in loans from oil revenue to bolster its liquidity.

British Airways climbed 3.9p at 220.1p on news that the threatened strike by BAA staff has been averted - at least for the moment, avoiding disruption to the critical August Bank Holiday period. The news provided some joy for holiday operators, with Tui Travel Plc (LON:TT.) up 1.2p at 200.3p and midcap Thomas Cook Group Plc (LON:TCG) ahead a penny at 176.6p.

Commercial property firms were in demand, with Segro Plc (LON:SGRO) the best of them, up 3.8p at 276.8p. British Land gained 5.7p at 457.1p and Land Securities Group Plc (LON:LAND) added 4p at 604p. Insurers continued to enjoy the RSA interest in Aviva, with reports that shareholders are keen on talks between the two, investors seeing that leading to an improved offer. Aviva shares added 6p at 383.9p and RSA Insurance…

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