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The FTSE 100 was up 0.6% by midday to 7,510.72, erasing earlier losses and bucking a negative trend elsewhere in global markets.
The moves followed suggestions of faster interest rate hikes from the US Federal Reserve overnight.
This guidance from the Fed benefited the UK banking sector and saw the pound fall boosting the relative value of the overseas earnings which dominate the FTSE.
EasyJet rose 1% to 644p after saying the Omicron variant of COVID-19 would continue to have a short-term impact, but the budget airline touted a strong summer ahead, with capacity returning to near pre-pandemic levels.
Investors put the boot into Dr Martens, the iconic British brand marked down 14% to 277.8p as 11% sales growth to £307 million for the third quarter including Christmas disappointed.
Growth slowed from the first half as the boot seller gave greater priority to the higher margin direct-to-consumer business over wholesale sales to third parties amid supply chain disruption.
Alcoholic drinks maker Diageo was up 0.6% to £36.66 after reporting a rise in profit as strong demand in its off-trade business and recovery in on-trade bolstered results.
For the six months ended 31 December 2021, pre-tax profit rose to £2.72 billion from £2.2 billion year-on-year as revenue increased 10% to £11.75 billion.
Shopping centre owner Hammerson upgraded its outlook on earnings as rental income rose more than expected amid better-than-expected rental income and a strong recovery in footfall that has continued into 2022. Its shares rose 2.5% to 38.5p.
Fiscal 2021 adjusted earnings would be in the range of £75-to-80 million, ahead of the minimum of £60 million previously indicated.
Online stock brokerage group IG climbed 5.5% to 867.25p after reporting a rise in profit as revenue was boosted by a rise in active clients following the acquisition of tastytrade.
Wealth management company St. James's Place reported a rise in funds under management as net inflows grew amid a favourable market backdrop. Its shares fell 0.8% to £15.18.
Convenience foods company Greencore was up 0.64% to 125.8p after reporting a rise in revenue in the first quarter of the year, driven by 'strong' growth in food to go categories.
For the 13 weeks to 24 December 2021, revenue increased by 24.4% year-on-year to £389 million.
Mining giant Anglo American rose 0.7% to £34.36 after reproting flat production in the fourth quarter of the year, though diamond output was highlight of the quarter amid 'strong' consumer demand.