FTSE 100 recovers after sharp falls yesterday

The leading share index was up in trading this morning, after falling sharply yesterday. Miners led the bounceback, helped by a recovery in copper prices.

Russian-focused oil firm Ruspetro added 7.4 per cent in early deals, as it reported a well in Siberia was on track to meet its full-year targets.

Healthcare provider BTG was up 6.23 per cent, as it said strong demand for its key products pushed up revenues.

Publishing groups Centaur and Trinity Mirror added 5.61 per cent and 4.91 per cent respectively.

Chipmaker Imagination Technologies soared 4.7 per cent as it said yesterday it was to acquire US business MIPS Technologies for $60m.

Elsewhere, business outsourcing provider Xchanging jumped 3.69 per cent. This morning it announced it was to acquire Italian business AR Enterprise.

Retailer SuperGroup was up 3.26 per cent on rising revenues.

At the other end of the spectrum, construction company Balfour Beatty fell 10.69 per cent as it issued a profit warning.

LED firm Dialight dropped 6.43 per cent, as it said delays to a contract hit trading.

Defence services firm Chemring was down almost five per cent. Yesterday private equity house Carlyle called off takeover bid discussions for the FTSE 250 firm.

Airline Flybe sank 4.5 per cent as it reported a pre-tax loss of £1.3m.

UK banks had a mixed morning. HSBC fell 0.12 per cent in early deals, RBS was up 0.95 per cent, Barclays was up 1.19 per cent and Lloyds Banking Group was down 2.77 per cent.

In Asia the Nikkei closed down 1.51 per cent, while in the US the Dow Jones closed 2.36 per cent down as investors fretted over the fiscal cliff.