The FTSE was up 27.5 points (0.5%) to 5271.63, buoyed by gains among mining firms.

UK insurer Standard Life leads the gains this morning despite reporting a fall in life and pensions sales in 2009.

The FTSE fell in early trading, dragged down by negative market sentiment towards resources firms.

Artemis, Invesco Perpetual and Neptune have taken the podium in Principal Investment Management's list of the best equity income funds.

The major UK banks are falling as the market absorbs the wider implications of Barack Obama's plans to keep US banks on a tighter leash.

In early trading, the FTSE was steady as a response to President Obama's statement on banking regulation, rising 0.1% to 5343.23, however financial stocks fell as UK markets opened.

UK pharmaceuticals rose in early trading after speculation mounted President Barrack Obama's healthcare reforms could be thwarted by the Republicans.