The FTSE 100 was very flat as it struggled for guidance today ahead of the US markets opening on Wall Street.
UK retail data showed the sales were up 1.2% on the high street in April boosted by warmer weather.
Across Europe there were 0.5% losses for the CAC 40 in Paris and the DAX index in Frankfurt.
European stocks drifted lower following mixed manufacturing reports from the Eurozone, with figures pointing to slowing growth in Europe’s largest economy Germany.
Eurozone PMI, the measure of activity in the manufacturing activity fell to a three month low in April.
In the UK, the FTSE 100 was dead flat at 7,007.
Mining stocks were given a boost by the Australian Treasury as it stated the country will not conduct an inquiry into the iron ore market.
The biggest mover on the index was Fresnillo (ON:FRES) which climbed 1.5% to 770p while mining giant Rio Tinto (LON:RIO), also benefitted, rising 1.1% to 2,900p.
Meanwhile, housebuilder Taylor Wimpey (LON:TW.) led the fallers, easing 3.7% to 184p, as it traded ex-dividend.
The big news away from the index was that food wholesaler Booker Group (LON:BOK) announced it is to buy Budgens and Londis owner Musgrave Retail Partners GB Limited for £40mln.
Convenience store chain Londis and grocery chain Budgens will join incumbent brands Premier and Family Shopper which are already owned by the UK’s largest cash-and-carry chain. Shares jumped 11% to 168p.
Elsewhere on the FTSE 250, shares in QinetiQ (LON:QQ.) opened higher after the defence technology specialist beat analyst estimates with a rise in profit.
The company, whose products include bomb disposal robots, reported a 7% rise in underlying profit for 2015 to £107mln. Shares climbed 9% to 235p.
In small caps, it has been a good morning for tech companies as Concurrent Technologies (LON:CNC) joined Phoenix in making a big gain.
Concurrent, a specialist in the design and manufacture of mission critical computer products, said first half revenues will be ahead of expectations.
Directors used the word ‘exceptional’ when describing the year the company is having, likely bringing a smile to shareholder’s faces.
Revenues are expected to far exceed the £5.6mln recorded in the first half of 2014.
Shares climbed 11% to 48p.
In other tech news, telecom provider Daisy Group (LON:DAY) has made a bid for AIM-listed Phoenix IT Group (LON:PNX), valuing the services operation at around £133mln. Phoenix’ shares were 18% higher to 152p.
Elsewhere, Gem Diamonds (LON:GEMD) revealed it was boosted by an increase of sales and prices as production and grades slipped.
Carats recovered in the first four months of 2015 were 8% lower while grades slipped 3%.
There was good news as the company, known for uncovering monstrous sized diamonds, was able to sell almost 36,000 carats at a value of US$77mln, an uptick of 14% on the previous quarter.
Shares were flat at 149p.