The FTSE 100 is up 43.8 points, or 0.68%, to 6,462.5, as Cable & Wireless pushes the index higher on news it might be broken up and sold to private equity firms.
Miners are performing well with Antofagasta up 2.35% to 544.25p, although Cable & Wireless is posting the biggest gains with a rise of 4.42% to 189.2p, while retailer Next has added 2.21% to £23.54.
Punch Taverns has climbed 1.97% to £12.95, while Reckitt Benckiser has advanced 1.8% to £27.68, although gains are being limited by Intercontinental Hotels Group which has slipped 0.25% to £12.20.
Brewer Scottish & Newcastle is currently the biggest loser with a drop of 1.2% to 617.5p, closely followed by Persimmon which has slipped 0.89% to £13.43, while Drax has fallen 0.19% to 797p, and Cadbury Schweppes is down 0.15% to 661.5p.
In the US on Friday, the Dow Jones Industrial Average hit a record high for the third day in a row with a rise of 15.44 points, or 0.12%, to 13,120.94, despite a weaker than expected reading on first quarter economic growth.
Microsoft posted the biggest gains with a rise of 3.51% to $30.12, closely followed by Honeywell International which is up 2.24% to $54.89, while 3M Company has added 1.37% to $81.55.
Heavy equipment maker Caterpillar added 1.04% to $73.76, while Hewlett-Packard advanced 0.59% to $42.29, although gains were limited by drug company Merck which closed down 1.09% to $51.86.
General Motors is the biggest loser with a drop of 2.74% to $31.56, closely followed by Home Depot which ended down 1.33% to $38.47, while Intel slipped 1% to $21.87, and AT&T dropped 0.82% to $38.64.
In Japan, the stock markets are closed for a national holiday.
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