While the Footsie was enjoying a hefty leg-up from rebounding resource stocks, stocks on Aim were registering more pedestrian gains.
The FTSE 100 was up 101 points (1.7%) at 6,207, with miners Anglo American, Glencore, Rio Tinto and BHP Billiton all notching up gains of 5% or more.
Aim's counterpart to the Footsie, the FTSE AIM 100, was up 12 points (0.4%) at 3,334, with Burford Capital Limited, up 8.8%, leading the way.
Online clothes seller ASOS, by far the biggest stock on Aim, was also lending its support to the index, up 3.8%.
The broader-based AIM All-Share index was up 1.5 points (0.2%) at 709.7.
The ability of digital media company Milestone Group PLC (LON:MSG) to issue shares at a premium was demonstrated again this morning, with the company raising £540,500 through the issue of shares at a penny a pop.
Milestone's shares rose 0.33p to 0.73p.
Milestone usurped Slovenian oil & gas group Ascent Resources PLC (LON:AST) as the day's biggest riser, although shareholders are unlikely to grumble at a 35% increase to 6.73p, as they await news on whether Ukraine-focused Cadogan Petroleum PLC (LON:CAD) will follow-up on its preliminary bid approach.
The trading update from investment company Clear Leisure PLC (LON:CLP) pushed the shares up 0.15p to 0.95p. The company revealed that as a result of a favourable ruling by the Turin Court, Companies Section, Clear Leisure is now the legitimate controlling owner of 50.17% of Italian company, SIPIEM. This court ruling represents a fundamental step for the company towards obtaining title to the shares of T.L.T. S.p.A., which owns the Ondaland water park.
Independent Oil & Gas PLC (LON:IOG) jumped 16% to 12p on funding news. It has received a £13.55mln infusion of cash from London Oil & Gas, which will provide it with the wherewithal to pick up assets, potentially at knock-down prices.
On the flip side, copper and gold producer Rambler Metals & Mining PLC (LON:RMM CVE:RAB) shares plunged 15% to 3.625p as it said it expects a better performance over the remainder of the year as the benefit of recent cost cutting shows through in its half year numbers.
Norman Williams, chief executive, told investors: "At the half year mark, the operation is on target to meet the forecasted guidance for the fiscal year.”
“With a continued focus on cost control, evident by the reduction in costs year to date, we anticipate returning a stronger financial performance in the second half of the fiscal year."
In oil, BowLeven PLC (LON:BLVN) tumbled 11% to 20.6p after the Africa-focused oil and gas exploration group's interims failed to come up to snuff.
The group reported a loss of $132.0 million for the six months ended 31 December 2015, which includes $133.5 million impairment charge recognised following a review of the group's intangible exploration assets.
88 Energy Limited (LON:88E) shares eased 4.9% to 3.47p as it revealed it had now completed analysis of core samples from the ‘super highway’ zone of the Icewine shale well, in Alaska.
The company said it was impressed with the results, but evidently the market was not.
Open
Small cap shares, notably resource stocks, along with the Footsie were making ground at the open.
Like yesterday, Slovenia oil & gas group Ascent Resources PLC (LON:AST) was doing well and top gainer in London, surging almost 49% to 7.40p a share.
It's after news of a preliminary takeover approach from Ukraine-focused Cadogan Petroleum PLC (LON:CAD).
FTSE AIM 100 is up 0.35% at 3,333 at the time of writing, while the FTSE AIM All share is 0.28% to the good at 710.160.
FTSE100 is 1.26% higher to 6,182 with miners ahead. The biggest riser is Anglo American (LON:AAL), up over 7% at 515.30p.
Markets have been boosted by Fed chair Yellen's comments Tuesday where she said the US central bank would proceed ‘cautiously’ with plans to raise interest rates in 2016.
The comments helped Wall Street to its best close for 2016 so far.
Among the big gainers on Wednesday morning was Galileo Resources PLC (LON:GLR) after it said remodelling of the Koeelkop and Wheal Julia prospects at its Concordia concession in South Africa had confirmed significant copper grades.
It was the first stage of an agreed work programme at the licence, indicated grades were similar to large copper open pits being mined globally.
On the flip side, copper and gold producer Rambler Metals & Mining PLC (LON:RMM CVE:RAB) shares plunged 14.71% in early deals to 3.63p as it said it expects a better performance over the remainder of the year as the benefit of recent cost cutting shows through in its half year numbers.
Norman Williams, chief executive, told investors: "At the half year mark, the operation is on target to meet the forecasted guidance for the fiscal year.”
“With a continued focus on cost control, evident by the reduction in costs year to date, we anticipate returning a stronger financial performance in the second half of the fiscal year."
In oil, 88 Energy Limited (LON:88E) shares eased 3.42% to 3.525p as it revealed it had now completed analysis of core samples from the ‘super highway’ zone of the Icewine shale well, in Alaska, and it is impressed with the results.
Chariot Oil & Gas (LON:CHAR) added 9.31% to 6.40p as it unveiled a deal with Italian major ENI to sell the majority of its stake in the Rabat Deep exploration project, offshore Morocco.
ENI is taking a 40% share in Rabat Deep, leaving Chariot with 10%. In return it will pay Chariot’s share of future drilling costs for the proposed JP-1 exploration well.
Tethys Petroleum (LON:TPL) gushed 5.26% higher to 2.50p as co -chair John Bell said the group was now better placed to realise value from its Kazakhstan assets following its deal with Olisol, which recapitalises the business and gives it ‘the right in-country partner’.