Markets today: 5 things you may have missed

• Engineer Babcock has recorded the biggest gain in the FTSE 100, surging 5.1pc on news it has been named as preferred bidder, along with American consortium partner Fluor, for a £7bn contract to decommission nuclear power sites across the UK.

• Mining shares, including Rio Tinto, up 1.9pc, and Anglo American, up 1.1pc, continue to be buoyed by hopes China, a voracious metals consumer, will introduce further stimulus measures to bolster its economy, which is the world’s second-biggest.

• Speculation the European Central Bank will take action at Thursday’s policy meeting to combat potential deflation in the eurozone has supported the broader market, with the FTSE 100 edging up 6 ponits to 6,622.

• Insurers have bounced following Friday’s concerns about the potential impact of a regulatory review into closed life insurance policies. Resolution, the company behind Friends Life, has gained 1.8pc and Aviva has rallied 1.7pc.

• Online fashion retailer Asos has jumped 2.4pc on Aim after analysts at Barclays told clients that “despite its rapid expansion, Asos is still at an early stage of its growth and we think its current valuation fails to reflect both the growth of the global online apparel market and ASOS's opportunity to further increase its pace of market share gains.” In the best case, the shares, which currently trade at around £51 apiece, could be worth £100, they said.

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