(MENAFN- ProactiveInvestors) Britain's blue chips added over 51 points at mid-session to stand at 6637 as banks and miners aided the rally.
It came as stock markets in Europe were buoyed at the prospect of the ECB launching a QE programme to stimulate the region's ailing economy. If it happens it would be a first in the Eurozone.
"The London market has pushed through the 6600 mark as pace gathers behind quantitative easing speculation from the European Central Bank on Thursday.
"We are two days away from Mario Draghi’s announcement and traders’ excitement can hardly be contained" said David Madden at IG Index.
The optimism appeared to outweigh more negative offerings - namely that the IMF forecasts for 2015 and 2016 have been cut by 0.3% to 3.5% and 3.7% respectively.
The miners were buoyed after Chinese GDP figures came in better than analysts had expected with () the biggest gainer adding 3.81%.
Meanwhile commodities giant Glencore () was also up 3.86%. Big banks RBS added 3.09% while () gained 2.89%.
On the flip side () the house builder was attracting sellers with the stock down 2.24%.
The oil price continued its now familiar slide - with Brent crude falling beneath US$49 whilst West Texas Intermediary crude was also lower at US$47.60 a barrel.
In small cap world bakery and ingredients firm Real Good Food () saw shares advance as it agreed to a significant new acquisition adding cake decoration ingredient firm Rainbow Dust Colours.
The AIM-quoted firm will pay an initial £4mln to acquire the Lancashire-based company which makes edible glitters dusts sprinkles and food paints.
The deal value could rise by up to £3.5mln depending upon Rainbow Dust’s margins over the next 12 months.
() shares added nearly 5% as it told investors it had sold a record amount of the yellow metal in its latest quarter while production in 2014 was also ahead of expectations.
The Tanzania-based miner sold 24700 ounces in the three months to December at US$1253 higher than the spot price due to the miner’s forward hedging.
Total gold sales over the whole of 2014 were 87758 ounces at an average price of $1289 per ounce. The miner had 31500 ounces hedged at the year end at a price of $1240 per ounce.
Other notable movers were Austria focused () up 22% and oil group Petro Matad () which added over 27%.
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