The FTSE 100 Index is up 34.9 points at 5,893.6 points this morning, after earlier hitting 5,900 points for the first time since June 2001, led by HSBC and the telecoms sector.
HSBC is up 1.28% at 987.50p after it reported an 11%increase in pre-tax profit to £11.5bn for 2005, the highest ever by a UK high street bank.
Vodafone has added 3.29% to 125.50p, while BT Group has added 3.29% to 227.75p and Cable & Wireless has risen 0.23% to 107.75p on bid speculation.
In Japan, the Nikkei 225 Stock Average rose 237.82 points, or 1.5%, to 15,901.16 points, paced by Softbank after the company said it is in talks to buy Vodafone Group's local unit.
Softbank climbed 120 yen, or 3.6%, to 3,430, while its affiliate, Yahoo Japan, rose 10,000 yen, or 7.4%, to 146,000.
Nomura, Japan's largest brokerage, climbed 85 yen, or 3.9%, to 2,290 after saying it will more than triple its second-half dividend after a stock rally boosted third-quarter profit fourfold.
Daiwa Securities Group also gained 36 yen, or 2.6%, to 1,415 and Nikko Cordial advanced 43 yen, or 2.4%, to 1,828.
In the US, the Dow Jones industrial average dipped 3.92 points, or 0.04%, to end at 11,021.59 on Friday as Intel's warning about a quarterly revenue shortfall overshadowed optimism about the health of the economy.
Intel's stock ended down 0.8% at $20.32 after hitting a 17-month low of $19.86 earlier in the day.
Shares of Citigroup fell 0.3%, or 13 cents, to $45.92 on anxiety interest rates may have to rise much more in the months ahead to keep inflation at bay.
Meanwhile, Boeing rose 0.8%, or 59 cents, to end at $73.39 after Australia said it planned to buy up to A$2bn ($1.5bn) worth of Boeing's large transport planes for its defence force.IFAonline
Putting the tech into protection
Square Mile’s series of informal interviews
Fallout from Haywood suspension
Launching later in 2019
£80bn funds under calculation