A mixed session has left the FTSE trading little changed as we approach the close.

The heavyweight sectors have been very much in focus with broker upgrades lending some notable support to the mining stocks, meanwhile, the energy sector has fared less well after BP fell short of expectations with its numbers this morning.

As a result, the FTSE recovered relatively quickly from its opening losses but has spent most of the day treading water around the 5260 level. This inertia has been compounded by an uneventful start on Wall Street, although, with many investors waiting for the forthcoming news of monetary policy plans across Europe and US employment readings, the fact that the pace has fallen back from recent days isn't entirely unexpected.

Aside from these high profile economic releases, there are still a number of blue chips to report in London this week including Antofagasta and ENRC tomorrow, plus Vodafone, Aviva and Royal Dutch Shell on Thursday. As we've seen today, failure for the big players to meet expectations does still have the ability to weigh on the index as a whole. Therefore, although the FTSE may be sitting a comfortable 5% or so above that psychological level of 5000, it could still be tested if we see a slew of results undershooting analyst forecasts.