The FTSE 100 is up 55.7 points, or 0.89%, to 6,312.5, as positive results news and significant gains on Wall Street last night boosted opening deals.
Retailer Next is posting the biggest gains with a rise of 5.2% to £22.05, following a ‘solid’ set of results, while miner Antofagasta is up 4.36% to 520.5p, and Barclays advanced 2.39% to 729.5p.
Royal Bank of Scotland has gained 2.37% to £20.77, closely followed by property company Hammerson which has added 2.36% to £17.75, although gains are being limited by WPP group which has slipped 0.25% to 783.5p.
Astrazeneca is the biggest loser with a fall of 0.85% to £28.12, while Alliance Boots has dropped 0.59% to £10.19, BSkyB has slipped 0.44% to 565.5p, and Imperial Tobacco has declined 0.18% to £22.44.
In Japan the Nikkei 225 Stock Average rose 256.00, or 1.5%, to 17,419.20, after exporters gained as the US Federal Reserve abandoned its tilt toward higher interest rates.
Canon, the world's largest digital camera maker, advanced 110 yen, or 1.7%, 6,540, while Sony jumped 90 yen, or 1.5%, to 6,180, and Toyota Motor added 60 yen, or 0.8%, to 7,800.
Nippon Steel, the world's No. 2 maker of the alloy, surged 37 yen, or 4.5%, to 866, while JFE Holdings, Japan's second largest, climbed 260 yen, or 3.6%, to 7,400, and Inpex, Japan's largest oil explorer, climbed 21,000 yen, or 2.3%, to 939,000.
Mitsubishi, the nation's No. 1 trading company, rose 60 yen, or 2.2%, to 2,785, while Sumitomo Metal Mining, the biggest non- ferrous metal producer in the country, advanced 30 yen, or 1.3%, to 2,315.
Mitsubishi UFJ Financial Group, Japan's biggest lender by assets, added 30,000 yen, or 2.3%, to 1.35 million, while Sumitomo Mitsui Financial Group, the nation's third largest rose 20,000 yen, or 1.9%, to 1.08 million.
In the US the Dow Jones Industrial Average rose 159.42 points, or 1.3%, to 12,447.52, as the Federal Reserve kept interest rates at 5.25%.
JP Morgan Chase posted the biggest gains with a rise of 2.72% to $49.05, closely followed by AT&T which added 2.51% to $38.86, while Microsoft advanced 2.44% to $28.52.
Meanwhile Disney climbed 2.3% to $35.17, closely followed by American Express which gained 2.19% to $57.49, and just one stock fell during yesterday’s session, as Alcoa dropped 0.65% to $33.85.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Nyree Stewart on 020 7034 2681 or email [email protected]IFAonline
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress