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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/us-gains-cant-lift-ftse-out-of-red.jpg"><img class="alignnone size-full" title="The FTSE 100 Index went down 22.5 points at 5986.5" src="http://londonglossy.com/wp-content/uploads/2010/12/min-us-gains-cant-lift-ftse-out-of-red.jpg" alt="The FTSE 100 Index went down 22.5 points at 5986.5"/></a></p>
<p>Wall Street opened in a buoyant mood, but early gains in the US failed to lift the London market out of the red.</p>
<p>The Dow Jones Industrial Average in America gained more than 40 points soon after opening, with investors cheered by a spate of positive economic news in recent weeks.</p>
<p>However, the FTSE 100 Index in London is in negative territory &#8211; down 22.5 points at 5986.5 &#8211; with little corporate or economic developments to add direction.</p>
<p>The gains for the Dow, which was open yesterday while London remained shut for the bank holiday, came after it reached a 28-month high on Tuesday.</p>
<p>The FTSE 100 had also been soaring higher before Christmas, thanks to the so-called Santa rally.</p>
<p>The top tier closed above 6,000 for the first time since June 2008 on Christmas Eve as thin trading volumes and happy festive sentiment helped blue chips move higher.</p>
<p>Banks were among those responsible for pulling the Footsie back below the 6,000 level. Part-nationalised Royal Bank of Scotland dropped 0.9p to 39.8p, with taxpayer-backed counterpart Lloyds Banking Group not far behind, down 1.2p to 67.6p.</p>
<p>British Gas parent Centrica was the leading faller, however, off 2% or 7.6p to 334.7p.</p>
<p>Miners fought back from early session declines seen after China&#8217;s move to raise interest rates by a quarter point on Christmas Day. The hike was the second rise in just over two months as China &#8211; a major source of demand for mining products &#8211; stepped up its battle to curb soaring inflation.</p>
<p>The sector was helped by excitement over metal prices after gold saw its largest one-day gain since early November on Tuesday. Gold miners African Barrick Gold and Randgold Resources led the sector&#8217;s rebound, up 33p to 615p and 185p to 5450p respectively.</p>
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