A spin valve structure, and method for manufacturing it, are described. The valve is subject to only small bias point shifts by sense current fields while at the same time has good GMR characteristics. This is achieved by introducing a layer of about 15 Angstroms of ruthenium between the seed layer and the free layer. This acts as an effective bias control layer with the added benefit of providing interfaces (to both the seed and the free layer) that are highly favorable to specular reflection of the conduction electrons. The HCP crystal structure of this ruthenium layer also improves the crystalline quality of the free layer thereby improving its performance with respect to the GMR ratio.