London's heavyweight stocks are bouncing back as the FTSE 100 Index soared to within reach of the 4300 barrier.
By the close the Footsie was up 106.7 at 4297.3.
Telecom stocks peppered the leaderboard with BT's former mobile phone arm mmO2 closing up more than 5% after encouraging subscriber numbers.
MmO2 said it had signed up 292,000 net new customers in the first quarter and built on its recent momentum in Germany. Shares moved up 2½p to 49p.
Vodafone climbed 3½p to 100p, BT moved ahead 13p to 251¼p while Cable & Wireless ended the day 7p better off at 175¾p.
Quarterly results from Finnish mobile phone giant Nokia had given stocks a boost early on after narrowly beating market expectations.
Elsewhere banks were also higher, with Barclays surging 24p to 499p, HSBC up 13½p to 732½p and Royal Bank of Scotland ahead 50p to £16.50.
Northern Rock ended the day 4% higher, up 27p to 657p, after posting interim profits 16% above last year.
BP and Shell moved up 6p and ½p to 495p and 433½p respectively while GlaxoSmithKline recovered recent losses to close 29p higher at £12.08.
Other risers included media stocks with Daily Mail & General Trust 42½p ahead at 575p and pay-TV broadcaster BSkyB up 43p at 611p.