The FTSE 100 threatening to break through the 6000 barrier again as investors clamour to the fashionable mining sector this morning, the index is 1.55% ahead to 5970.70.
A deal to supply Pilbara iron ore to Hyundai Steel has led to a flurry of activity for Rio Tinto so far, surging 11.1% to 5506.
BHP Billiton, which is targeting Rio, is up 8.53% to 1603 in sympathy – while Anglo American is sharing in the spoils, up 6.76% to 2936.
The positive sentiment is not rubbing off on Smith & Nephew, the orthopaedic device manufacturer is 3.45% lower to 658.50.
British Airways is lower despite meeting Q3 operating profit targets, the carrier is 2.64% down to 323.25.
In New York, the Dow Jones climbed as confidence grew in the affect of the Federal Reserve rate cuts, the index closed 1.67% to 12650.36.
McDonalds climbed on news after rival Burger King announced a 29% profit jump, the golden arches climbed 5.04% to 53.58.
A Deutsche Bank rating raise for Home Depot led the retailer to move 4.29% ahead to 30.64.
American Express also shared in the solid afternoon session, 3.78% ahead to 49.13.
Merck continued its recent barren run, the pharmaceutical giant closed down 1.26% to 46.10 – while Altria was the only other stock to fall on Thursday, down 0.93% to 75.79.
In Tokyo, the Nikkei was unable to follow a number of Asian indices higher and closed the week 95.31 points (0.7%) lower to 13,497.16.
Japanese investors remain caution on US fiscal statistics, while profit forecast concerns hit a number of high end retailers, with Sony falling to its lowest level in over a year.
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What made financial headlines over the weekend?
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch