The FTSE 100 Index surged 1.4%, or 79.2 points to 5861.9 today as confirmation that Comet was going into administration provided a boost for consumer electronics rivals.
Dixons Retail jumped 13%, or 2.8p to 23.4p on hopes its PC World and Currys chains will pick up business, while Argos owner Home Retail Group rose 4%, or 4.4p to 118.5p.
The top tier was also boosted by gains from BT, BSkyB and Lloyds Banking Group following well-received results and trading updates.
BT jumped 7%, or 14.5p to £2.27 despite it cutting its revenue outlook for the full-year due to contract issues in its global services division.
BSkyB was 50p higher at £7.59 after first quarter results showed a better-than-expected 3% rise in underlying earnings to £392million.
Shares in Lloyds were 8%, or 3.4p higher at 43.9p after it doubled underlying profits to a better-than-expected £840million in the third quarter.
Royal Bank of Scotland, which reports figures tomorrow, was 11.2p higher at 287.2p and Barclays was 11.75p stronger at 239.25p.
Royal Dutch Shell was more than 2% higher, ahead 51p to 2241.5p, after it posted well-received figures for the third quarter.
But fellow exploration firm BG Group fell another 4% after its warning of flat production output in 2013 caused a 14% slump in its share price yesterday. The stock was down another 45.5p to £11.02.
Outside the top flight, industrial company Cookson was 8p higher at 590.5p, after it confirmed plans to split itself in two.
Stuart Lamont, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, highlighted Hunting up 6.2% to 794.75p and FirstGroup rising 5.2% to 200.25p as well as A.G. Barr off 1.5% at 439.5p and Bridge Energy down 1.1% at £1.41.