The FTSE 100 has hit its high for the day - up more than 100 points - after a strong opening on Wall Street.
The Dow Jones Industrial Average climbed around 120 points in early trading, pushing the UK's leading index up 106.53 points to 5297.21. Fears of severe contagion from Dubai's financial problems seem to be easing, and there were also some positive US figures in the shape of manufacturing growing for the fourth month in a row and better than expected pending home sales.
With risk appetite back on the agenda - to some degree - miners were among the leading lights, especially since metal prices are holding firm. Fresnillo is up 49.5p at 892.5p while Eurasian Natural Resources Corporation has risen 34.5p to 896p.
Banks were also showing signs of recovery, with one obvious exception. Standard Chartered added 72.5p to 1556.5 while HSBC is up 13.7p to 720.7p. But Lloyds Banking Group continued to be out of favour, down 1.1p to 54.05p.
