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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/china-restraint-pushes-ftse-higher.jpg"><img class="alignnone size-full" title="The FTSE 100 Index rose 43.3 points to 5856.3 at midday" src="http://londonglossy.com/wp-content/uploads/2010/12/min-china-restraint-pushes-ftse-higher.jpg" alt="The FTSE 100 Index rose 43.3 points to 5856.3 at midday"/></a></p>
<p>Relief that China refrained from raising interest rates has pushed the FTSE 100 Index to its highest level for a month as miners surged ahead.</p>
<p>The Footsie rose 43.3 points to 5856.3 thanks to gains from the heavily-weighted mining sector after Beijing held off from lifting rates to curb inflation.</p>
<p>There had been fears over a move by China after its inflation rate jumped to a 28-month high of 5.1%, but the country&#8217;s leaders wrapped up an annual economic meeting on Sunday with a pledge to control inflation while shifting the economy toward more stable, balanced growth.</p>
<p>Wall Street&#8217;s Dow Jones Industrial Average was also on course for a higher opening according to futures trading, boosted by gains in Asian and European markets.</p>
<p>In the UK, resources stocks were the major beneficiaries of London&#8217;s rally as Kazakhmys climbed 37p to 1566p and silver miner Fresnillo cheered 36p to 1569p.</p>
<p>Household goods giant Reckitt Benckiser was also on the rise, up 3% or 9.7p to 313.3p, as news of its deal to buy India&#8217;s Paras Pharmaceuticals was taken well. Analysts praised the acquisition for expanding Reckitt&#8217;s market share in such a key emerging market.</p>
<p>The FTSE 250 Index was dominated by merger and acquisition activity in the oil and gas services sector. Wellstream Holdings backed an £800 million takeover offer from America&#8217;s General Electric. GE&#8217;s latest proposal, which followed two rejected offers, caused shares in Newcastle-based Wellstream to rise 38.5p to 785.5p, up 5%.</p>
<p>Elsewhere in the energy services industry, John Wood Group announced an agreement to buy fellow Aberdeen-based firm PSN for 955 million US dollars (£600 million) and added that the deal will be significantly earnings enhancing. Shares in John Wood were near to the top of the FTSE 250 Index, up 7% or 33.8p to 522p.</p>
<p>Plant-hire company Ashtead followed them on the second tier risers board after a broker upgrade in the wake of last week&#8217;s forecast-beating half-year profits. Its shares rose 5.8p to 161.1p, having soared last week on its results cheer.</p>
<p>But pub group JD Wetherspoon was seeing falls after a broker downgrade, which comes in the wake of a recent shares rally. Wetherspoon shares dropped 19.4p to 435.6p, or 4%, followed by more declines for Comet parent Kesa Electricals after last week&#8217;s disappointing update for the UK business. Kesa shares sunk 5.3p to 163.1p.</p>
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