It might not actually be the connection to the net that's the problem...
A web page can have lots of information pulled in from different other sites, so for example an advert photo / Flash animation might be on a heavily used server.
The circling indicator just means that there are still parts of the page 'yet to load'. Opera shows something like "50/52 items" on some pages, and I know that there are only a couple more items to come...
In my case, on some PCs, I've locked out adverts from ever being displayed from some websites, and eventually the page might be displayed with a marker in place of an image, or with an error message displayed in place of some text, if I've done so.
If the spinning marker irritates me, I just hit the escape key or the 'stop loading' control on the browser and only if there's something missing which I was potentially interested in, will I bother to 'refresh' the page and wait for the missing item(s) to appear.