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By midday the FTSE 100 was up 1.8%, rebounding from its losses in the last week as investors await the latest meeting of the US Federal Reserve.
Travel shares were higher on hopes of a return to normality as Covid restrictions are lifted.
Gift wrap designer and maker IG Design fell 53% to 120.5p as it warned of supply chain squeezes, costs increases and lower sales.
Gambling software group Playtech dropped 0.9% to 635.5p after it reiterated its support for a £2.7 billion bid for the company by Aristocrat Leisure amid speculation it could explore alternatives if shareholders block the deal.
Sky News reported that Playtech was drawing up contingency plans to break up the company and sell its operations if the takeover by Aristocrat was blocked by some Asian-based shareholders.
Enterprise software group Sage fell 4.2% to 730.4p on announcing its first-quarter revenue rose 5%, putting it on track to meet its annual guidance.
Sage's revenue for the three months through December increased to £458 million, up from £435 million year-on-year.
Wealth manager M&G added 1.3% to 215.4p amid news that it had partnered with digital investment specialist Moneyfarm to provide direct investment services to UK consumers.
M&G said its UK wealth management arm would use Moneyfarm's existing technology, digital capabilities and investment guidance to back its own branded proposition.
Fellow wealth manager Brewin Dolphin firmed 1.4% to 329.5p after it reported a 3.7% rise in first-quarter funds under management, buoyed by net inflows.
Another wealth manager, Quilter, climbed 0.7% to 144.8p on announcing that its annual assets under management had jumped 13%, thanks to fresh inflows and positive market movements.
Budget carrier Wizz Air ascended 4.3% to £43.15 even after it booked a deeper third-quarter loss as the Omicron variant put pressure on travel markets.
Wizz Air's net losses for the three months through December were €267.5 million, though the red ink partly owed to ramped up spending as the company prepared for a return to more normal conditions.
Pet products and veterinary services group Pets at Home rose 3% to 430.6p, having upgraded its annual profit guidance after its third-quarter revenue grew 5.8% year-on-year.
Pets at Home's underlying pre-tax profit for the year through March, excluding any potential impact from accounting changes, was now expected to rise to at least £140 million.
Online trading platform CMC Markets added 2.6% to 236.5p on reaffirming that its net operating income would be in-line with guidance as momentum continued in the third quarter.
Bus and train group Stagecoach advanced 0.9% to 92.45p despite it postponing a sale of its inter-city coach businesses, due a regulatory enforcement order related to its proposed merger with National Express.
The Competition and Markets Authority issued an interim order preventing National Express or Stagecoach from selling material UK assets while it probes the deal.
Oil producer Tullow Oil slipped 2.0% to 55.7p after its annual production and revenue both fell following lower output from wells in Ghana.
Tullow Oil also released broad-ranging production guidance for 2022 with a midpoint below its output in 2021.
Concrete levelling technology group Somero Enterprises firmed 3.4% to 552.99p, having again upgraded its annual earnings and revenue guidance amid a robust performance in the US.
Somero, however, also forecast flat earnings in 2022 due investment spending, including staff additions.
Document and data management group Restore rallied 6.8% to 484.8p as it upgraded its annual guidance, citing positive organic growth, efficiency gains and a contribution from eight acquisitions.