Activity in London's equity market remained predictably low key yesterday as the institutions and private investors stayed on the sidelines ahead of today's crucial news on domestic interest rates.

While the leaders and second liners were generally ignored the smallcap stocks continued to build on their recent strong gains. The FTSE SmallCap index finished 6.0 up at 2,859.1, having touched 2,859.4 at best.

Overall, however, there was no really pessimistic feel to the stock market, with dealers saying sentiment remains relatively positive, especially in view of the big boost to confidence from last week's reassuring US non-farm payroll report.

At the finish of a disappointing session, the FTSE 100 only just managed to stay above the 6,300 level, closing 66.2 off at 6,309.5, having bottomed at 6,302.5. The FTSE 250 closed 19.8 easier at 6,153.4. Turnover in equities was again disappointing, reaching only 910 million shares.