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The FTSE 100 was solidly higher by midday, rising 0.4% to 7,370.29, a 20-month high.
The rise in the index was supported by gains for the miners amid relief Chinese property developer Evergrande avoided defaulting on its debts.
Luxury goods firm Burberry fell 6% to £18.46 after resuming its interim dividend after reporting a jump in first half profit as revenue returned to pre-pandemic levels and margins expanded.
For the half year through 25 September, pre-tax profit increased to £191 million from £73 million year-on-year as revenue increased 38% to £1.21 billion.
Retailer WH Smith slipped 0.6% to £16.02 on narrowed annual losses as costs cuts offset a slide revenue following the pandemic impact on travel.
For the year ended 31 August, pre-tax losses narrowed to £116 million from £280 million, while revenue declined 13% to £886 million.
Johnson Matthey slumped 17.5% to £22.81 after reporting that Robert MacLeod would stand down as chief executive. The chemicals company also said it would exit battery materials as potential returns would not be adequate to justify further investment. 'Whilst demand for battery materials is accelerating, so is competition from alternative technologies and other manufacturers. Consequently this is rapidly turning into a high volume, commoditised market,' the company said.
Insurance company Aviva gained 0.5% to 407p after reporting 'strong' performance in the first nine months of the year amid record inflows in savings & retirement business and 'excellent' growth in general insurance.
Housebuilder Taylor Wimpey was unchanged at 158.1p as it confirmed it was on track to meet full year guidance as it successfully navigated supply chain issues and enjoyed house price growth.
LED systems company ProPhotonix climbed 39% to 7.64p after agreeing to a $11.6 million merger bid by Exaktera, and would recommend it shareholders accept the offer.
Support vessels provider Gulf Marine Services added 8.5% to 6.4 pence after winning two contract extensions, on improved dayrates, for a K and S Class vessel.
Digital automotive marketplace Auto Trader rose 10% to 685.8p after reporting its highest ever six-monthly revenue and profits as car buying activity on its platform soared.
Defence technology company QinetiQ fell 1.1% to 266.6p as it reported a fall in first-half profit after performance was impacted by a write-down on a project and weaker performance in the US.