21 May 2013 Last updated at 07:45 ET

London Market Report

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FTSE 100 Index

Last Updated at 21 May 2013, 09:14 ET *Chart shows local time

value	change	%
6768.12	+ +12.49	+ +0.18
Top winner and loser
Polymetal International
677.00 p	+ +60.00	+ +9.72
Carnival
2268.00 p	- -142.00	- -5.89

value	change	%
FTSE 250 Index
14771.70	+ +50.78	+ +0.35
FTSE 350 Index
3642.89	+ +7.54	+ +0.21
FTSE All Share Index
3570.46	+ +7.41	+ +0.21
FTSE Techmark Index
2927.89	+ +6.72	+ +0.23

(Noon): The London market continued to rise, despite cruise operator Carnival seeing its shares slump after it issued a profit warning.

The FTSE 100 rose 11.37 points to 6,767, having closed at its highest level for more than 12 years on Monday.

Carnival dropped 11% after it said revenues were set to fall by 2-3%.

The firm - which operates P&O, Cunard and Costa Cruises - has been hit by a series of problems on its ships and has cut prices to attract customers.

A sharper-than-expected fall in the rate of inflation sent the pound down against other major currencies.

The drop in the CPI inflation rate - to 2.4% in April from 2.8% in March - was seen as giving the Bank of England greater flexibility to increase stimulus measures to boost the economy.

The pound fell 0.6% against the dollar to $1.5157, and dropped 0.5% against the euro at 1.1782 euros.

'Buying opportunity'

Back among equities, shares in Marks and Spencer jumped 6.6% to 469.6p despite the High Street retailer reporting a drop in full-year profits.

Pre-tax profits fell 14% to £564.3m, while underlying pre-tax profits fell 6% to £665.2m - in line with analysts' expectations.

G4S fell 0.6% after the security firm announced that its chief executive, Nick Buckles, was to step down.

Shares in Vodafone edged up 0.4% despite the mobile phone operator reporting a drop in full-year revenues after tough economic conditions hit trading in Europe.

Analysts said the stock market's recent rise showed few signs of running out of steam.

"The surge in equities has been partly down to (central banks') quantitative easing programmes and calling the top of this rally is proving increasingly difficult," said Lee McDarby, head of dealing at Investec Corporate Treasury.

"Any wobble in the index just looks like another buying opportunity."