A torrent of trading updates from blue-chip companies provided plenty of impetus for the top-share index today.
The FTSE 100 rose 38 points to 6,669, with index heavyweight Royal Dutch Shell (LON:RDSB) leading the rise.
The Anglo-Dutch integrated oil company kept its legion of shareholders that hold the stock for income happy by committing to maintain the dividend next year at a level that matches or surpasses this year’s.
That was a concern because the company’s dividend cover is running perilously close to 1.0, plus it has to find the money to buy up BG Group (LON:BG.) – which rose 3.8% today – but it put many of those fears to rest by announcing job cuts and dramatic reductions in outgoings as it adjusts to the lower oil price environment.
The “B” shares – more widely held in the UK than the “A” shares – jumped 4.7% to 1,861p.
Also enjoying a spell in the sun was hotels operator InterContinental Hotels (LON:IHG), up 4.6% after solid interims.
The company is in talks with US rival Starwood Hotels & Resorts (NYSE:HOT) about a potential tie-up, it emerged on Thursday.
IHG is said to have held preliminary talks with Starwood about a merger that would create the world's biggest hotelier.
Drugs leviathan AstraZeneca (LON:AZN) also gave Footsie a shot in the arm, rising 3.1% to 4,319.5p, as second quarter revenue at constant exchange rates rose 2% although core operating profit fell 4%.
Jet engine maker Rolls-Royce (LON:RR.) climbed 19p to 749.5p as it cheered investors with unchanged guidance for annual revenue and profit despite posting a 32% fall in underlying pre-tax profit to £439mln.
Engineering firm Babcock (LON:BAB) was the worst performing heavyweight after a mostly positive AGM statement was soured by gloomy predictions about revenue it is likely to earn from the hard-pressed oil and gas sector.
The shares came off 5.2% at 985.5p, which meant the shares performed even worse than British Gas owner Centrica (LON:CNA), which fell 3.1% to 266.6p.
The utility company weighed in with thousands of job cuts as its British Gas arm made profits of £528mln in the six months to June 30, up 99% on the same period a year ago, but unlike Shell, its decision to lay off thousands did not cheer the market.
Royal Bank of Scotland (LON:RBS) shed early gains to finish 11p lower at 342.4p after reporting a better-than-expected increase in second quarter profit.
The majority state-owned bank has been restructuring after being rescued in the financial crisis and taking hits for PPI mis-selling and other controversies.
Also on the slide was BT (LON:BT.A), which fell 1.2% to 468p. The telecoms group reported higher profits and latest customer numbers for its new mobile and TV businesses, but investors were unimpressed.
Connor Campbell at Spreadex said: "This disappointment could perhaps be attributed to the 2% drop in revenue seen by the media company, a decline that becomes more egregious when compared to the staggering growth shown by Sky in its fiscal full year results yesterday."
Drinks group Diageo (LON:DGE) fell 28p to 1811p as it reported flat sales in 2015 prompted by declines in some of its markets.