FTSE closes day positively

The London market has held its nerve to finish in positive territory today despite two aborted flotations.

The FTSE 100 Index had dived 30 points after Yell and Focus Wickes pulled plans to float, blaming the volatile stock market.

But the index has recovered its composure, helped by a modestly upbeat start in the US, and closed up 29.4 points at 4685.8.

Unspectacular economic data has also played a part, as analysts say the latest manufacturing figures increase the likelihood of an interest rate hold later this week.

Media stocks in particular have been coming back after a run of heavy losses.