It was, as traders like to say, a risk-on day, and a bright end to an otherwise grim week.
The FTSE 100 rose more than 3%, or 170 points to 5,708, for its best single-day gain since August of last year. Despite that, it still finished 141 points, or 2.4%, down on the week.
Power systems developer Rolls-Royce (LON:RR.) was wanted, rising 14.3%, as the market applauded the decision to cut the dividend and responded positively to noises on outlook and cost savings.
Banks emerged from under the cloud that had been hovering over them recently, with Standard Chartered (LON:STAN) and Royal Bank of Scotland (LON:RBS) the pick of the bunch, with rises of 11% and 7.4% respectively.
Investors also got back into oil stocks, boosted by rumours of yet another OPEC meeting, which is fuelling some hopes of production cuts.
Sector tiddler 88Energy (LON:88E) put both in the shade, soaring 46% to 1.2p, continuing this week's good run. Earlier this week, the company rose nearly 200% after it revealed better than expected results from tests on samples taken from the recently drilled Icewine-1 well in Alaska.
Diamond miner Golden Saint Resources (LON:GSR) saw its market value increase by more than a third after it revealed it had raised £150,000 by issuing shares at 0.03p a pop. The shares rose 0.01p to 0.0375p.
On the downside, Motive Television (LON:MTV) shares lost a third of their value as the AIM shares are to be suspended on Monday unless it can find a new nominated adviser (nomad).
The engineer is now up over 17% to 623.5p as its final results did more than a little to reassure investors.
Despite cutting the divi payment in half the group gave positive noises on outlook and cost savings.
FTSE100 is up 90 points, or 1.63% to 5,627 at the time of writing.
Oil stocks have also been boosted by rumours of yet another OPEC meeting, which is fuelling some hopes of production cuts.
Later in the day we have US retail stats, which should throw further light on the strength or otherwise of the US economy.
In Wall Street markets, futures trading shows the Dow up 168 points.
In smaller caps, 88Energy (LON:88E) surged over 42% to 1.175p, continuing the good run. Earlier this week, the company rose nearly 200% after it revealed better than expected results from tests on samples taken from the recently drilled Icewine-1 well in Alaska..
On the downside, Motive Television (LON:MTV) shares lost over 16% to 0.0025p as the AIM shares are to be suspended on Monday unless it can find a new nomad.
Monitise (LON:MONI) added over 7% to 1.9p. as the fintech group said it was confident it will post an underlying profit in the second half of the year.