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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/china-interest-hike-hits-miners.jpg"><img class="alignnone size-full" title="FTSE 100 Index was up 15.3 points to 6066.6" src="http://londonglossy.com/wp-content/uploads/2011/02/min-china-interest-hike-hits-miners.jpg" alt="FTSE 100 Index was up 15.3 points to 6066.6"/></a></p>
<p>The world&#8217;s fastest growing economy has hiked interest rates in a move that dragged mining stocks into negative territory.</p>
<p>Investors feared China&#8217;s decision to raise the one year deposit rate for the second time in as many months would weaken the country&#8217;s hunger for commodities.</p>
<p>Despite the pressure on resources stocks, the FTSE 100 Index was up 15.3 points to 6066.6, while in the US the Dow Jones Industrial Average was also marginally higher.</p>
<p>Among stocks on the back foot, Essar Energy was off 9.5p to 524p and Eurasian Natural Resources slipped 17p to 1027p.</p>
<p>Meanwhile, Chancellor George Osborne&#8217;s move to increase the levy on banks to £2.5 billion this year had little impact on leading shares in the sector.</p>
<p>Barclays and Royal Bank of Scotland, who are expected to help the government raise an additional £800 million from the balance sheet tax, were down 1.05p to 311.7p and 0.1p to 44.2p respectively.</p>
<p>Some of the stocks to make progress in a strong session gave back a slice of their gains, with chip designer Arm Holdings off 16p at 595p and Cairn Energy topping the fallers board, down 12.2p to 423.2p.</p>
<p>Marks &#038; Spencer&#8217;s success in poaching a senior Tesco executive to lead its internet expansion caused the retailer&#8217;s shares to jump more than 3%, up 11.7p to 371.5p. The appointment of Laura Wade-Gery, which was announced after the market closed, should help chief executive Marc Bolland&#8217;s quest to lift web sales from £400 million to at least £800 million by 2013/14.</p>
<p>In corporate results, BG Group shares added 25p to 1465p after fourth quarter figures exceeded market expectations as higher energy prices helped the exploration giant offset a drop in oil and gas production. BG also upgraded its long-term production targets, notably for Brazil and the United States.</p>
<p>Thomas Cook shares rose 2% despite its warning that political unrest in travel hotspots Egypt and Tunisia would hit second-quarter profits by around £20 million.</p>
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