J Sainsbury plunged up by 4.39 per cent during the morning trading hours, after attaining the 342.60p by mid-day which is in reaction to the suggestions that the Qatari Investment Authority which might procure a further stake in Britain's third largest grocer. At present the sovereign wealth fund possess 26 per cent of J Sainsbury.

The head of equities at Killik & Co, Jonathan Jackson, expresses that despite of the uncertainty around the bid J Sainsbury is a good buy which is setup on fundamentals.

Marks & Spencer underwent from the news of sluggish sales growth, trailing by 2.52 per cent by mid-day.

BP has also benefited from the interest depicted by the sovereign wealth funds, which tolled up by 4.11 per cent to 359.70p by mid-day. After this the unspecified Saudi investors expressed that they might grab a 15 per cent bet in the struggling oil company.

Moving further, Tony Hayward, the chief executive of BP, made a set of visits in the Middle East shoving for further investment.

Today the Mining stocks are moving down but not to the degree that they were moving yesterday.