FTSE edges higher despite poor Google update and Nikkei fall

Despite disappointing results from Google and a near 3% fall on the Nikkei 225, the UK market is trying its best to move ahead. The FTSE 100 is currently 10.16 points higher at 5221.45, with Burberry and BP leading the way and miners recovering ground. But with Wall Street futures indicating an opening dip and a host of big US companies reporting later - including the likes of General Electric, Citigroup and Bank of America - the mood is still edgy. Joel Kruger, currency strategist at Daily FX, said: Looking ahead, we would recommend that traders proceed with caution as the extended rally of the past several days shows signs of exhaustion which could warn of UK equity weakness, and a pullback in the pound. BP is up 13.25p at 415p after it said the oil flow in the Gulf of Mexico had been halted, while Burberry has added 25.5p to 816p on news it was buying the Chinese stores currently operated by a franchisee for £70m. Among the miners recovering from yesterday's falls - after weaker than expected Chinese GDP - were Eurasian Natural Resources Corporation, up 13p at 855.5p, and Vedanta Resources, 25p better at £22.63.