London shares built on gains as traders welcomed Greece's election result and positive news from the health sector.
A decisive outcome to Greek elections boosted markets despite a shock move by Zurich Insurance to drop its bid for rival RSA (LON:RSA).
Syriza emerged as the largest party in the latest Greek poll, reassuring markets that Athens would continue to implement measures agreed in its latest bailout.
Mike van Dulken at Accendo Markets said: "This should at least provide some stability in terms of keeping to the terms of the bailout before the first progress review."
The Greek news helped the FTSE 100 to rise 52.32 points at 6156, shrugging off a sharp drop in RSA's shares following Zurich's decision to ditch its takeover interest.
RSA's stock fell a fifth to 405.4p after Zurich said it was withdrawing due to a deterioration in its own trading.
But drug group Shire (LON:SHP) got a 128p shot in the arm to 4873p after the European Commission approved its attention deficit hyperactivity disorder treatment Intuniv.
The Dax in Frankfurt pared losses to stand 50 points up as traders digested news that car maker Volkswagen had breached US air pollution tests, leaving it facing potential fines of US$18bn.
Seeing Machines (LON:SEE) declined 0.25p to 4.6p as the developer of digger operator safety systems reported higher losses and costs, but said revenue had hit a record.
Shares in Avation (LON:AVAP) flew 13p higher to 149p as WH Ireland reiterated 'buy' advice after the aircraft lessor bought an Airbus A320-200 on lease to Air France.
Nostra Terra (LON:NTOG) was flat at 0.12p as it signed a North Africa joint venture deal with Independent Resources (LON:IRG), whose shares fell 0.05p to 0.65p.
Cluiff Natural Resources (LON:CLNR) ticked up 0.25p to 3.88p as its underground coal gasification (UCG) plans got a lift from an independent economic consultant, which highlighted potential long term economic benefits for the UK.
Allergy Therapeutics (LON:AGY) advanced 0.38p to 26.38p after the maker of the Pollinex range of vaccines unveiled better-than-expected annual profits.
LONDON OPEN
A decisive outcome to Greek elections boosted markets despite a shock move by Zurich Insurance to drop its bid for rival RSA (LON:RSA).
Syriza emerged as the largest party in the latest Greek poll, reassuring markets that Athens would continue to implement measures agreed in its latest bailout.
Mike van Dulken at Accendo Markets said: "This should at least provide some stability in terms of keeping to the terms of the bailout before the first progress review."
The Greek news helped the FTSE 100, up 5.73 points at 6109, to shrug off a sharp drop in RSA's shares following Zurich's decision to ditch its takeover interest.
RSA's stock fell more than a fifth to 401.7p after Zurich said it was withdrawing due to a deterioration in its own trading.
But drug group Shire (LON:SHP) got a 128p shot in the arm to 4873p after the European Commission approved its attention deficit hyperactivity disorder treatment Intuniv.
The Dax in Frankfurt dropped 108 points after news that car maker Volkswagen had been breaching US air pollution tests, leaving it facing potential fines of US$18bn.
Seeing Machines (LON:SEE) declined 0.38p to 4.5p as the developer of digger operator safety systems reported higher losses and costs, but said revenue had hit a record.
Shares in Avation (LON:AVAP) flew 2.5p higher to 138.5p as WH Ireland reiterated 'buy' advice after the aircraft lessor bought an Airbus A320-200 on lease to Air France.
Nostra Terra (LON:NTOG) jumped 4.35% to 0.12p as it signed a North Africa joint venture deal with Independent Resources (LON:IRG), whose shares fell 0.08p to 0.62p.
MARKET PREVIEW
UK shares are set to open around flat or lower as traders are jittery after the Fed decision last week and an election in Greek yesterday.
FTSE100, along with other global indices, finished lower on Friday after the US said hold on an interest rate rise and fears over the pace of global economic growth resurfaced - not that it had ever been far away.
It finished 1.34% lower, 83 points, at 6.104 but today is called to open 0.5 points lower.
In the US on Friday markets were also lower - the Dow Jones ended 290 points down at 16,385 and the Nasdaq and S&P 500 were also lower.
Apart from China, where there was 21 point gain, Asian stocks on Monday were trailing, with Japan's Nikkei 225 down a whopping 362 points at 18,070.
Also in focus for investors is the latest newsflow from the Eurozone, where Greece has come back to the fore.
Last night, Prime Minister-elect Alexis Tsipras, who resigned in August following securing the rescue package, and then put himself and the left wing Syriza party up again for re-election, won a majority of 35%.
The party will now form a coalition with the nationalist Independent Greeks.
The Premier was reported as saying the Greeks now faced a difficult road to recovery.