The FTSE 100 Index shrugged off a profit fall and dividend cut at Barclays (LON:BARC), although weak manufacturing data weighed.
The Footsie climbed 31.36 points to 6128 as crude prices rose on the back of comments from Saudi Arabia that it may work with other producers to limit volatility in the oil market.
But Barclays cast a shadow by announcing lower annual pre-tax profits - and a wider statutory net loss - as well as a dividend cut.
It also said it was not expecting its first quarter to match a strong showing last year due to current markets. Shares fell 14.65p, or 8.5%, to 157.4p.
Eurozone manufacturing came in at a 12-month low in January and data showed UK manufacturing hitting a 34-month low in February, only 0.8 percentage points above the 50 level representing growth.
Shares in the London Stock Exchange (LON:LSE) rose 203p, or 7.6%, to 2881p as the owner of the New York Stock Exchange, ICE (NYSE:ICE), said it was considering a bid to rival that made by Deutsche Boerse.
Investors developed their appetite for shares in bakery chain Greggs (LON:GRG) by 82p to 1117p after it cooked up a 5.2% rise in annual sales to £835.7mln and boosted pre-tax profits by a quarter to £73mln. It also increased its dividend by 30% to 28.6p.
Premier African Minerals (LON:PREM) reversed 0.08p, or 11.5%, to 0.58p on news that it had raised another £500,000 to provide working capital while its RHA tungsten mine in Zimbabwe comes on line, although it said it was not anticipating the need for any more fund-raisings.
Natural sweetener producer PureCircle (LON:PURE) was 5.25p tastier at 320.25p after adjusted pre-tax earnings before interest, depreciation and amortisation more than doubled to US$13.5mln.
Andes Energia (LON:AEN) strengthened 0.37p, or 2.3%, to 16.62p as the Argentina and Colombia-focused oil producer confirmed it had fully repaid its debt facility with Macquarie Corporate Holdings.
MARKET PREVIEW
The FTSE 100 is expected to open lower after a weak showing on US markets yesterday, sparked by oil price weakness.
Asian markets are trading firmer this morning, however, and the Footsie’s fall is expected to be relatively modest, somewhere around 40 points at 6,057.
Heading into the last hour of trading, Japan’s Nikkei 225 was up 59 points at 16,086 while in Hong Kong the Hang Seng index was up 150 points at 19,263.
US benchmarks just about ended February higher than they started it, but the final day of the month saw all three of the major benchmarks give up ground.
The Dow Jones average closed at 16,517, down 123 points, while the S&P 500 retreated 16 points to 1,932. The Nasdaq Composite was off 32 points at 4,558.
On the futures markets, oil was holding its own, with WTI crude for April delivery up 21 cents at $33.96 a barrel and Brent also up 23 cents, at $36.80 a barrel.
On the economic front, it is a big day for manufacturing purchasing manager indices, while in the US presidential primaries it is so-called Super Tuesday.
On the corporate front, the final shoe drops in the banking results season, with Barclays (LON:BARC) weighing in. Pre-tax profit for the year is expected to come in at £6.1bn against an actual figure of £5.1bn at the nine month stage.