The Footsie was tantalisingly short of a triple-digit gain as investors piled in after the Chinese central bank cut interest rates.
The FTSE 100 Index was up 99 at 6,474 in lunch-time trading.
The People’s Bank of China cut the benchmark one-year lending rate to 4.35% from 4.6% while the one-year deposit rate was cut to 1.5% from 1.75%.
The cuts were among a number of measures designed to stimulate the Chinese economy, and unsurprisingly the resource companies responded positively to the development.
Embattled commodities group Glencore (LON:GLEN), up 5.3%, led the charge, closely followed by silver miner Fresnillo (LON:FRES), up 4.5%.
Fashion firm Burberry (LON:BRBY), which regards China as a key market, was wanted, advancing 3.2% to 1,340p.
Also on the rise was Shire (LON:SHP) after third quarter earnings announced at midday. Total revenues were up 4% year-on-year, while earnings per American depositary share were up 11% on a non-GAAP (generally accepted accounting principles).
Publishing powerhouse Pearson (LON:PSON) was at the bottom end of the Footsie leader-board, as it is still under selling pressure after its profit warning earlier this week.
Among the mid-caps, bookmaker William Hill (LON:WMH) was slow out of the traps on news that profits would be at the bottom end of City forecasts after a hit from a lower win margin and a £23mln duty rise. The shares were the worst mid-cap performers, down 8%.
Telecoms firm TalkTalk (LON:TALK) slumped 4% to 257.8p as it revealed that the police were investigating a cyber-attack on its web site that had potentially compromised customers' private details.
Shares in Cable & Wireless (LON:CWC) surged 5.4p to 75.4p as it revealed it was in talks with Liberty Global (NASDAQ:LBTYA) about a potential takeover by the Virgin Media owner.
Investors were sweet on Optibiotix Health (LON:OPTI), up 4.6% at 51p, after Public Health England’s obesity report mooted plans for a sugar tax. Optibiotix is developing a range of non-digestible natural healthy sugars with zero calories.
News that 88 Energy (LON:88E) had started drilling the Icewine Number 1 exploration well in Alaska yesterday hit its stock by 0.04p or 5.4% at 0.72p, though the stock has had a very good week – up 5.4%.
The company said definitive testing of the potential of the HRZ shale formation at the site would involve several months of data analysis.
Shares in Zamano (LON:ZMNO) reversed 1.2p to 11.05p after it said talks about a takeover of the Internet and mobile technology company had ended.
LONDON OPEN
Top-flight shares bounced on Friday after the European Central Bank (ECB) hinted at more support for the eurozone economy.
The FTSE 100 Index rose 47.73 points to 6424, the CAC-40 in Paris jumped 58 points and Frankfurt's Dax lifted 136 points.
The ECB held interest rates on Thursday, but president Mario Draghi opened the door to a rate cut or more quantitative easing at the central bank’s December meeting.
Chris Scicluna at Daiwa Capital Markets said: "Clearly, we had a highly significant Governing Council meeting yesterday with Draghi going almost as far as he could without actually precommitting to altering policy. He sent an unambiguous signal that additional easing is highly likely."
The Dow Jones Industrial Average soared 320 points on Thursday, helped by Draghi's comments and some helpful economic data and corporate results.
Back in London, TalkTalk (LON:TALK) slumped 23.9p to 244.6p as it revealed that the police were investigating a cyber-attack on its website that had potentially compromised customers' private details.
Shares in Cable & Wireless (LON:CWC) sparked 5.75p to 75.75p as it revealed it was in talks with Liberty Global (NASDAQ:LBTYA) about a potential takeover by the Virgin Media owner.
Bookmaker William Hill (LON:WMH) dropped 22.3p to 323.1p on news that profits would be at the bottom end of City forecasts after a hit from a lower win margin and a £23mln duty rise.
Shares in Optibiotix Health (LON:OPTI) sweetened 1.5p to 50.25p after Public Health England’s obesity report mooted plans for a sugar tax. Optibiotix is developing a range of non-digestible natural healthy sugars with zero calories.
News that 88 Energy (LON:88E) had started drilling the Icewine Number 1 exploration well in Alaska yesterday hit its stock by 0.05p or 6.6% to 0.71p.
The company said definitive testing of the potential of the HRZ shale formation at the site would involve several months of data analysis.
Shares in Zamano (LON:ZMNO) reversed a penny to 11.25p after it said talks about a takeover of the Internet and mobile technology company had ended.
MARKET PREVIEW
London is expected to continue to draw comfort from comments yesterday by ECB governor Mario Draghi.
The decision by the ECB to leave interest rates unchanged was widely expected, and the market focused on Draghi's press conference comments, which suggested the bank's policy makers were prepared to adopt a more accommodative stance in terms of its securities repurchase programme.
Spread betting quotes point to the FTSE 100 just about breaking through the 6,400 barrier after closing at 6,376 last night.
US markets had a spectacular day on Thursday, helped by Draghi's comments and some helpful economic data.
The benchmark Dow Jones Industrial Index added 321 points to close at 17,489, while the Nasdaq Composite added 80 points at 4,920. The broader-based S&P 500 rose 34 points to finish at 2,052.
With Asian markets approaching the close of trading, the Nikkei 225 in Japan was up 2.2% at 19,848 and the Hang Seng in Hong Kong was up 1.2% at 23,122.
Back in Blighty, attention will be focused on trading updates from bookie William Hill (LON:WMH) and pharmaceuticals giant Shire (LON:SHP).