FTSE100 closed marginally higher after the ECB released a surprise interest rate cut with oil giant BP (LON: BP.) the biggest faller on the blue chip exchange.
Its shares fell 5.94% as a judge ruled it was negligent in the 2010 Gulf of Mexico oil spill disaster.
Footsie closed out up 4.39 to 6.877 - still not a great way off the magic 6,830 all time high number reached in late 1999.
But by the biggest news of the day was on the macro front and came out of the eurozone as the region's ailing economy was back in the spotlight this afternoon as the ECB cut interest rates even further in a bid to get it out of the doldrums.
Europe’s central bank had been the first to introduce negative rates earlier this year for banks parking money in its vaults. It cut the benchmark rate to 0.15% in June from 0.25%. Now it has cut that back to 0.05%.
The news hit the Euro hard which fell against the US dollar, while in London,
Standard Life (LON:SL.) led the risers after it unveiled a £1.75bn share buyback worth about 73p per share.
Among the biggest losers was fund supermarket Hargreaves Lansdown (LON:HL.), which shed 2.24%..
It came as the shares were rated a 'sell' by City firm Liberum, which expressed concerns over pressure on margins and profits. Liberum said the financial business "does not justify" a price to earnings of 30 times.
On the winning front, fashion brand SuperGroup (LON:SGP) was wanted as it revealed a better than expected trading update. Like-for-like (LFL) sales in the first quarter of the company’s fiscal year fell less than expected.
Aminex (LON:AEX) rose 9.71% as it raised its estimate of the Ntorya discovery at Ruvuma in Tanzania by almost 60% after reworking existing data, boosting hopes it may attract a farm-out partner.
“The new interpretation shows that Likonde and Ntorya are connected at the Cretaceous level and based on the recent 2014 seismic programme, management [average] estimates of the resources have increased from 1.2 Tcf to 1.9 Tcf ,” the company said.
Jay Bhattacherjee, Aminex’s chief executive, added: "We are highly encouraged by the results from the seismic programme.
Partner Solo Oil (LOB;SOLO) did even better with its hsres rising by 23% .
Also wanted were shares in Armadale Capital (LON:ACP) after latest drilling at its Mpokoto gold project in the DRC confirmed a new mineralisation zone close to the surface.
President Energy (LON:PPC) shares rose 5.26% on “very encouraging” follow-up data from the first of a three well programme in Paraguay.