FTSE closes at 6345.6

London's leading market the FTSE 100 finished up 61.1 points despite downbeat economic news on both sides of the Atlantic.

Traders shrugged off worse than expected UK borrowing figures earlier in the day and news that the country's current account deficit rose sharply to a record £20 billion in the third quarter of the year.

Amid thin trading as markets wind down ahead of the Christmas break, broadcaster ITV was in focus after the Competition Commission recommended pay-TV firm BSkyB reduce its controversial 17.9 per cent holding in the company to below 7.5 per cent.

That revived hopes of bid interest in the commercial broadcaster, which lifted 1.4p to 84.4p, or nearly 2 per cent. BSkyB however slipped into the red, falling 1 per cent, or 7p, to 600p as traders faced up to the company making a hefty loss on its investment in ITV.

Top flight newcomer Tullow Oil provided the biggest fall of the session, with shares off more than 3 per cent after the exploration firm disappointed analysts with an update from a test well in Uganda. Shares dipped 20p to 630p.

Meanwhile, shares in Sports Direct International continued to rally after the publication of half-year results prompted a 20 per cent gain yesterday.

Investors followed the lead of chief executive Dave Forsey and finance director Bob Mellors, as both directors spent £1 million on the company's shares today. The FTSE 250 stock rose another 13 per cent, or 13.25p to 114.25p.

There were contrasting fortunes for pubs and brewing group Marston's, the leading faller in the second tier after a downgrade for the sector from JP Morgan amid consumer spending fears. Marston's was down nearly 3 per cent, or 8.75p to 311p, while top-flight stock Mitchells & Butlers was 0.25p lower at 442.25p.

The biggest Footsie risers were Johnson Matthey up 93p at 1836p, British American Tobacco ahead 68p at 1980p, DSG International up 3.5p at 102.8p and Compass ahead 3.5p at 102.8p.

The biggest fallers were Tullow Oil down 20p at 630p, British Energy off 9.5p at 517p, Persimmon down 12.5p at 775.5p and Experian off 6.25p at 388.5p.

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