The FTSE 100 Index gained 54 points, or 1.0%, to 6,082 points today, led by commodity stocks.
Oil major Cairn Energy rose 5.25% to 2,448p after Merrill Lynch upgraded the shares to "buy" from "neutral" citing valuation grounds.
BP gained 1.70% to 688p and BG, which announced an exploration deal with Oman, rose 3.60% to 763.50p as crude oil traded above $74 a barrel despite concerns over supplies in Bolivia.
Kazakhmys and Xstrata led the mining sector higher on hopes of further rises in metal prices, gaining 4.92% to 1,194.50p and 3.98% to 2,063p respectively.
London Scottish Bank advanced 5.94% to 107p after it received an increased conditional proposal from Promethean Investments and said it will allow the bidder access to carry out due diligence.
Meanwhile, fund manager Aberdeen Asset Management fell 5.20% to 187p. It lifted interim profits to £36.8m from £9m as the benefits of the Deutsche Asset acquisition kicked in. Assets under management rose 24.6% to £74.4bn with record half-year net new business of £3.6bn.
In the US, the Dow Jones Industrial Average has advanced 49.06 points, or 0.4%, to 11,392.35 points as earnings from Verizon Communications, the second-largest US telephone company, exceeded analysts' forecasts.
Verizon has climbed 32 cents to $33.11 after it said first-quarter profit excluding some costs was 60 cents a share, beating a 59-cent estimate by UBS AG.
Emerson Electric has gained $1.87 to $87.29. The company raised its forecast for the year saying it expects to earn as much as $4.35 a share on higher sales, up from its earlier forecast of $4.10 to $4.30 a share.
But Hovnanian Enterprises has lost $2.53 to $36.25 after it said fiscal second-quarter earnings and new orders fell because of a slowdown in the housing market.IFAonline
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