London’s blue-chip index hit its highest level since January 2008 today as optimism for the powerhouse Chinese and US economies triggered a rally in markets around the world.
The FTSE 100 Index recovered from its downbeat start to the week, surging up 86.3 points to close at 6,432.
On Wall Street the Dow Jones Industrial Average reached an all-time high following a recent batch of better-than-expected figures in the US.
Standard Chartered, which is focused on Asia and emerging markets, was one of the London top flight’s biggest risers after it posted profits growth for the 10th year in a row.
Shares have risen 30% in the last six months and were up today by 3% or 57.5p to 1,837.5p, while Royal Bank of Scotland was 5.9p stronger at 312.8p and Lloyds Banking Group lifted 0.7p to 52p.
Miners were also a big factor in the improved FTSE 100 performance after merger partners Xstrata and Glencore International posted reassuring results updates.
With the tie-up likely to be completed by the middle of next month, Xstrata was 74.5p higher at £11.74 and Glencore lifted 21.3p to 391.2p.
Outsourcing firm Serco was the biggest riser in the top flight, up 9% or 51.5p to 630.5p, after a 28% jump in pre-tax profits came in ahead of City expectations.
The biggest FTSE 100 risers also included Wood Group ahead 60p to 818p.
The biggest FTSE 100 fallers were Intu Properties down 5.1p to 334p, Admiral Group off 9p to £12.67, SSE 8p lower at £14.61 and Centrica down 0.9p to 360.5p.
Carrie Keenan, of investment manager and financial planning specialist Brewin Dolphin in Aberdeen, highlighted Hunting among the risers, with the shares climbing 6.47% to 905.75p. Meanwhile, Cairn Energy added a further 2.79% to 283.5p.
Among the fallers, Optos lost 1.96% at 196.5p and A.G. Barr softened 1.56% to 509.25p.