Mining companies were leading gains on the FTSE by lunchtime, buoyed by hopes of a lasting global economic recovery.
A strong showing from major US companies this week has rekindled hopes that the worst may be over in the financial crisis. Bank of America today reported second-quarter profits of $3.2bn, down 7% from a year ago, but the drop was less than analysts had expected.
Eurasian was the biggest riser on the FTSE 100, up 5.6% at 759.71p, followed by Xstrata with a 5% rise to 697p.
The FTSE traded up 36.04 points at 4397.88 at 12.15pm, a rise of 0.82%, putting it on track for its best week this year.
Shares in British Airways rose 3.7% to 137.3p, after the carrier unveiled plans to rise more than £600m of fresh funding. This outweighed news of another loss at the struggling airline.
