A string of strong earnings results as well as positive homes re-sale data in the US thrust the Dow into positive territory today.
Shortly after opening, the Dow had rocketed more than 107 points (1.2%) to 8,988.27.
Home resales figures in the US rose in June for the third consecutive month, spurred by tax incentives and lower borrowing costs.
Purchases also climbed to their highest level since October, up 3.6% to an annual rate of 4.89 million.
Telecoms giant AT&T soared 4.03% to $25.84 after reporting strong Q2 earnings. The company posted profits exceeding analysts' estimates after millions of customers grappled for iPhones and other web-equipped devices.
Maker of 'Post-it' notes 3M is up 3.9% to $67.19 after its Q2 results also beat analysts' forecasts. The company subsequently raised its 2009 earnings forecast.
However, JPMorgan Chase fell 0.16% to $36.77.
The FTSE's eight-day winning streak looks set to continue as the blue chip index passed 4,500 once more as US stocks soared.
The index has gained more than 35 points (0.78%) to 4528.77, buoyed by mining and natural resource firms.
Fresnillo has added 7.88% to 636.5p while Eurasian Natural Resources is up 7.85% to 852p. Kazakhmys has gained 7.77% to 798p, while Vedanta Resources and Xstrata rose 7.06% to £16.98 and 6.3% to 770.7p respectively.
However, utilities firms continued to suffer after Ofwat's decision to up water bills.
Severn Trent leads the losses, plunging 7.1% to £10.34, while United Utilities Group has fallen 3.2% to 491.25p. Pennon Group is down 3.2% to 491.25p.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till