The biggest faller in mid-morning trading was engineering company Invensys as its third quarter results failed to excite investors.

The company saw share price drop by 4.8 per cent to 340.3p, as it reported third quarter performance was 'on track' and 'in line with management expectations with operating profit equivalent to the corresponding period last year'.

Invensys Rail saw orders were down year-on-year as it awaits the outcome of bids on a number of large contracts. However, it said operating performance had been good, with an increase in operating profit. However, Invensys Controls experienced softening in demand, particularly from North America, contributing to a decline in operating profit and revenue.

The company also revealed a net cash of £257 million at 31 December 2010, a decline from the £336 million reported at 30 September 2010, as a result of seasonal cash flows and a £42 million payment in respect of its Baan minority holding.

Miners also featured at the bottom of the table as Kazakhmys, Fresnillo and Xstrata all saw share prices fall.

Kazakhmys shed  3.8 per cent to 1,561p, Fresnillo dropped 3.4 per cent  to 1,381p, while Xstrata reported a 3 per cent decrease in share price to 1,418p. Fashion house Burberry Group also reported a 3 per cent drop in share price to 1,057p.

The biggest riser was National Grid after reports of an upgrade by analysts  at JP Morgan, rising 1.7 per cent to 540p. Banks Lloyds Banking Group and Barclays also saw share prices rise. With Lloyds increasing by 1.3 per cent to 67.04p and Barclays by 1.2 per cent to 299.65p.