The FTSE 100 rallied 0.8% on materially stronger oil prices as hopes of a deal at today's OPEC meeting increased. This outweighed weakness in banking and mining stocks.
West Texas Intermediate and Brent crude oil both surged over 7% to $48.41 and $49.81 per barrel, respectively.
Gold retreated 0.2% to $1,185 per ounce, while copper rose 0.4% to $5,754 per tonne.
FTSE 100 RISERS AND FALLERS
State-owned banking group Royal Bank of Scotland (RBS) slumped 3% to 190.9p as it emerged as the main loser in the latest Bank of England stress test. The company said it needs to raise at least £2bn of extra capital.
Shares in Barclays (BARC) and Standard Chartered (STAN) were flat as the results revealed some 'inadequacies' but not sufficient enough to require strengthening their balance sheets.
Lloyds (LLOY) nudged higher as it 'comfortably exceeded the higher capital and leverage thresholds'.
Full year numbers from software firm Sage (SGE) retreated 0.9% despite a revenue increase of 6.1% in the September 2016 financial year. The dividend was hiked by 8% to 14.15p and the firm said it will target further organic revenue growth.
FTSE 250 RISERS AND FALLERS
Plastic packaging business RPC (RPC) jumped 7.5% on a 66% year-on-year increase in first half pre-tax profit. It also boasted over 100% advance in free cash flow, which supported a dividend hike.
Investors were eager to invest in online property portal Zoopla (ZPLA) following an 84% increase in full year revenue to £197.7m. It also announced the acquisition of estate agency website design business Technicweb.
Soft drinks business Britvic (BVIC) fizzed 7.3% after posting an 8.4% increase in full year earnings as a result of Brazilian expansion and improved UK sales.
Investors overlooked lower pre-tax profit at Brewin Dolphin (BRW) as the stockbroker reiterated that its business is financially strong. Statutory pre-tax profit declined from £61m to £50.1m.
SMALL CAP RISERS AND FALLERS
Mineral explorer Bezant (BZT) announced that initial gold and platinum was recovered using its exploration processing plant on site at the FKJ 083 licence area in Columbia. The stock catapulted 58% to 2.5p.
Gaming group Webis (WEB) reported a 3.3% decline in gross profit to $4.1m, which it blamed on 'the cost of remaining competitive.'
Trans-Siberian Gold (TSG) surprised investors by offering to pay a special dividend, amounting to $5.5m, prompting its stock to gain 11.7%.
Oil production company Nighthawk (HAWK) fell 13.3% on a downbeat update that revealed lower gross monthly production throughout 2016, compared to the prior year.
Owner of webuyanycar.com BCA Marketplace (BCA) pleased the market by delivering increased earnings per share of 26%, which beat expectations.
Shares in gaming tech firm Playtech (PTEC) struggled after major shareholder Brickington Trading sold 12% of its stake.
Anglesey Mining (AYM) raised approximately £310,000 to development its Parys Mountain zinc-copper-lead deposit in North Wales.