Sharecast - Investor sentiment was also buoyed by news that US National Security advisor Jake Sullivan had met with China's top diplomat, Wang Yi, in a bid to lower tensions.
Against that backdrop, as of 1205 BST the FTSE 100 was rising by 0.25% to 7,750.12.
The second-tier index on the other hand was off 0.20% to 19,226.99.
Overnight, US President Joe Biden and the Republican speaker of the US House of Representatives, Kevin McCarthy, postponed until the following week a meeting that had been scheduled to take place on Friday.
The announcement sparked optimism that aides for both sides had made progress, something that was later reportedly confirmed.
In other economic news, the Office for National Statistics said that gross domestic product expanded at a quarter-on-quarter pace of 0.1% over the first three months of 2023, as expected.
Samuel Tombs, chief UK economist at Pantheon Macroeconomics, noted that the country's economic output remained half a percentage point below its level from before the pandemic - unlike its G7 peers - mainly due to weak consumption on the part of households.
Still ahead, at 1500 BST, the University of Michigan was scheduled to release preliminary results for its closely followed consumer confidence survey covering the month of May.
THG (LON:THG) hangs up on Apollo
Online retailer THG called off take-over talks with US private equity outfit Apollo Global Management. Like previous offers for THG, Apollo's bid was said to have been rejected due to an "inadequate valuation" and the nature of the offer structure.
Infrastructure group Balfour Beatty (LON:BALF) said it expected annual profits to be flat, with current trading in line with expectations. In a trading update ahead of its yearly shareholders meeting, the company said its order book was £17bn compared with £17.4bn at the end of December.
Beazley posted strong first quarter growth and reiterated its full-year guidance. Gross premiums grew by 12% to $1.37bn with net premiums ahead by 24% to 1.07bn. The full-year combined ratio was still seen in the high 80s.
Market Movers
FTSE 100 (UKX) 7,752.96 0.29%
FTSE 250 (MCX) 19,226.54 -0.21%
techMARK (TASX) 4,723.27 0.22%
FTSE 100 - Risers
Beazley PLC (LON:BEZG) 612.00p 4.35%
JD Sports Fashion PLC (LON:JD) 174.60p 3.56%
Airtel Africa Plc (LON:AAF) 115.20p 3.13%
3i Group (LON:III) 1,853.00p 3.03%
GSK (GSK) 1,475.60p 2.13%
Compass Group (LON:CPG) 2,159.00p 2.13%
Rolls-Royce Holdings (LON:RR.) 148.85p 2.02%
Endeavour Mining (EDV (LON:EDV)) 2,066.00p 1.37%
Convatec Group (CTEC (LON:CTEC)) 221.40p 1.37%
SSE (LON:SSE) 1,887.00p 1.34%
FTSE 100 - Fallers
Diageo (LON:DGE) 3,534.00p -2.36%
British Land Company (BLND) 376.70p -1.39%
Land Securities Group (LAND (LON:LAND)) 618.00p -1.28%
Mondi (LON:MNDI) 1,283.50p -1.16%
Smith (DS) (SMDS) 313.20p -1.14%
Smurfit Kappa Group (CDI) (SKG) 2,992.00p -0.99%
Melrose Industries (LON:MRON) (MRO) 454.40p -0.87%
Unite Group (LON:UTG) 918.50p -0.81%
Anglo American (LON:AAL) 2,328.50p -0.81%
Prudential (LON:PRU) 1,172.50p -0.76%
FTSE 250 - Risers
4Imprint Group (FOUR) 4,595.00p 9.40%
Bakkavor Group (BAKK) 96.40p 3.66%
Bank of Georgia Group (BGEO) 3,325.00p 1.99%
Man Group (EMG) 215.50p 1.89%
Crest Nicholson Holdings (LON:CRST) 260.00p 1.72%
ASOS (LON:ASOS) (ASC) 508.60p 1.72%
Investec (INVP) 439.90p 1.48%
Mitchells & Butlers (MAB) 195.70p 1.35%
Bridgepoint Group (Reg S) (BPT) 228.00p 1.33%
Lancashire Holdings Limited (LRE) 615.00p 1.23%
FTSE 250 - Fallers
Ferrexpo (LON:FXPO) 105.90p -4.08%
Great Portland Estates (GPE) 492.40p -3.73%
NextEnergy Solar Fund Limited Red (LON:NESF) 103.80p -3.71%
Derwent London (DLN) 2,188.00p -3.70%
Abrdn Private Equity Opportunities Trust (APEO) 443.00p -3.28%
IntegraFin Holding (IHP) 282.00p -2.62%
TUI (LON:TUIT) AG Reg Shs (DI) (TUI) 515.00p -2.17%
Helios Towers (HTWS) 92.00p -1.97%
International Distributions Services (IDS) 226.90p -1.90%
Sirius Real Estate Ltd. (SRE) 77.95p -1.83%
