Sharecast - The FTSE 100 was up 0.6% at 7,769.29.
CMC Markets analyst Michael Hewson noted that US markets finished their session strongly higher, "taking their cues from comments from US President Biden expressing confidence that a deal would ultimately be agreed, confidence that was echoed by House Republican leader Kevin McCarthy".
In equity markets, medical products company Convatec gained as it lifted its full-year organic revenue guidance.
Housebuilders were also on the front foot after a well-received update from Vistry, which said it expects to report adjusted annual earnings of more than £450m as the market continues to improve in the wake of the disastrous ‘mini budget’ of former prime minister Liz Truss.
Vistry rose, along with Persimmon (LON:PSN), Barratt and Taylor Wimpey (LON:TW).
Aston Martin surged after Chinese auto group Geely committed to invest £234m in the luxury car maker, to become its third-largest shareholder.
Genuit was a high riser as the plastic pipe and ventilation products maker said annual earnings would be slightly ahead of consensus.
Mr Kipling and Oxo owner Premier Foods advanced as it lifted its dividend and posted a jump in full-year profits despite a "challenging" environment.
Budget airline easyJet (LON:EZJ) flew a little higher after it expressed confidence about the summer season as it reported a narrowing of its first-half losses, in line with guidance.
On the downside, telecoms giant BT Group (LON:BT) tumbled after saying it planned to axe up to 55,000 jobs by 2030 and become a "leaner" business.
The news came as it reported adjusted core earnings up 5% to £7.9bn. On a pre-tax basis, BT posted a 12% fall in profit to £1.7bn due to increased depreciation from network build and specific items, partially offset by adjusted EBITDA growth.
Victoria Scholar, head of investment at Interactive Investor, said: "Telecoms appears to be awash with job cuts with Vodafone (LON:VOD) and BT reducing the size of their workforces. Both have been struggling with the pressures of inflation, most notably from energy.
"BT is focusing on digitisation and integrating AI, a shift which is likely to require fewer workers. Last year the telecoms operator was caught up in a bitter dispute with workers over wages amid the cost-of-living crisis, resulting in BT’s first national strike for 35 years."
Luxury fashion brand Burberry was under the cosh despite posting a rise in full-year profit as revenues in the fourth quarter were boosted by a rebound in the Chinese market.
Russ Mould, investment director at AJ Bell, said: "The fact Burberry hasn’t lifted its guidance for the new financial year after reporting such a strong set of results, and reference to it being ‘mindful’ of the macroeconomic and geopolitical environment, appear to have been the trigger for some investors to take profits in the stock, with the share price falling more than 6% on the latest news.
"Investors want companies to consistently beat expectations and if they can’t do that, they will look elsewhere in the current market."
Royal Mail (LON:IDSI) owner International Distributions Services fell after saying it swung to a hefty full-year loss after a bruising year-long battle with unions over pay and conditions.
Media group Future slid after lowering its full-year expectations on the back of "challenging" market conditions.
In broker note action, Marks & Spencer was knocked lower by a downgrade to ‘neutral’ from ‘buy’ at Citi.
Bunzl (LON:BNZL), GlaxoSmithKline, Unilever (LON:ULVR) and PageGroup all fell as they traded without entitlement to the dividend.
Market Movers
FTSE 100 (UKX) 7,769.29 0.60%
FTSE 250 (MCX) 19,314.55 0.52%
techMARK (TASX) 4,696.43 0.18%
FTSE 100 - Risers
JD Sports Fashion (JD.) 171.75p 5.37%
Convatec Group (CTEC (LON:CTEC)) 224.80p 4.46%
Persimmon (PSN) 1,361.50p 3.18%
Ashtead Group (LON:AHT) 4,929.00p 2.71%
Barratt Developments (LON:BDEV) 512.20p 2.44%
Taylor Wimpey (TW.) 128.55p 2.31%
DCC (CDI) (LON:DCC) 4,968.00p 2.26%
Halma (LON:HLMA) 2,500.00p 2.25%
Informa (INF) 721.80p 2.12%
Smurfit Kappa Group (CDI) (SKG) 2,998.00p 2.04%
FTSE 100 - Fallers
BT Group (BT.A) 136.05p -8.14%
Burberry Group (LON:BRBY) 2,345.00p -6.94%
Centrica (LON:CNA) 118.05p -1.42%
National Grid (LON:NG.) 1,126.00p -1.27%
Ocado Group (LON:OCDO) 405.40p -1.19%
GSK (GSK) 1,431.00p -0.79%
Anglo American (LON:AAL) 2,352.50p -0.74%
Unilever (ULVR) 4,284.00p -0.72%
Melrose Industries (LON:MRON) (MRO) 484.80p -0.66%
British American Tobacco (LON:BATS) 2,662.00p -0.47%
FTSE 250 - Risers
Aston Martin Lagonda Global Holdings (AML) 263.80p 14.10%
Genuit Group (GEN) 326.50p 9.56%
Keller Group (LON:KLR) 713.00p 6.10%
Bakkavor Group (BAKK) 96.40p 4.78%
Mitchells & Butlers (MAB) 207.60p 4.27%
Vistry Group (LON:VTYV) (VTY) 847.00p 4.05%
Premier Foods (PFD) 134.40p 3.70%
TBC Bank Group (TBCG) 2,440.00p 3.39%
Bank of Georgia Group (BGEO) 3,360.00p 3.38%
Tullow Oil (LON:TLW) 23.56p 3.33%
FTSE 250 - Fallers
Future (FUTR (LON:FUTR)) 886.00p -15.30%
Energean (ENOG) 1,160.00p -6.15%
Auction Technology Group (ATG) 702.00p -2.90%
UK Commercial Property Reit Limited (UKCM) 54.20p -2.69%
Bluefield Solar Income Fund Limited (BSIF) 134.60p -2.18%
Darktrace (LON:DARK) 278.50p -1.94%
Network (LON:NETW) International Holdings (NETW) 357.00p -1.76%
Syncona Limited NPV (SYNC) 153.20p -1.54%
Octopus Renewables Infrastructure Trust (ORIT) 101.80p -1.36%
Tritax Eurobox (GBP) (EBOX) 68.40p -1.30%
