Sharecast - At 0825 GMT, FTSE 100 was up 0.3% at 7,475.95.
Richard Hunter, head of markets at Interactive Investor, said: "The optimists were back in the driving seat, amid light volumes in a shortened US trading week and ahead of the latest Federal Reserve minutes.
"In a slight change to sentiment, there are hopes that the aggressive Fed rate hikes so far means that the terminal rate will be hit sooner, which is currently estimated to be around 5% from the current 4%. Alongside comments from some Fed members suggesting that reduced hikes may be possible if a recently promising inflation number is the beginning of a downward trend, investors sought solace in the fact that the end of the year could signal the start of a slowdown for both.
"Asian markets were also generally positive, despite some concerning Covid-19 developments in China. The authorities are tilting towards a reiteration of another tight lockdown policy after the first deaths in the mainland were reported at the weekend and with case numbers still steadily rising."
On home shores, the S&P Global/CIPS manufacturing and services PMIs for November are due at 0930 GMT.
In equity markets, miners were among the top performers, with Glencore (LON:GLEN), Anglo American (LON:AAL) and Antofagasta (LON:ANTO) all up.
Drinks maker Britvic (LON:BVIC) fizzed higher as it posted a rise in full-year profit and revenue, hailing growth in both the retail and hospitality channels, which benefited from good weather over the summer and no lockdown restrictions.
Rotork (LON:ROR) advanced after it reported a jump in revenues for the four months to 30 October and backed its full-year profit expectations.
On the downside, United Utilities slumped after saying that half-year earnings dipped, hit by surging inflation and the long dry summer.
Pets at Home also fell after it backed its full-year profit guidance but reported a drop in interim profit as energy and freight costs rose.
Industrial thread maker Coats (LON:COA) lost ground even as it posted a rise in revenues and held full-year guidance, despite strengthening forex headwinds.
Market Movers
FTSE 100 (UKX) 7,475.95 0.31%
FTSE 250 (MCX) 19,400.94 -0.11%
techMARK (TASX) 4,418.28 -0.02%
FTSE 100 - Risers
Glencore (GLEN) 527.60p 2.47%
Anglo American (AAL) 3,182.50p 1.40%
BP (LON:BP.) 494.05p 1.24%
Pershing Square (NYSE:SQ) Holdings Ltd NPV (PSH) 2,955.00p 1.20%
Endeavour Mining (EDV) 1,721.00p 1.18%
Shell (LON:RDSa) (SHEL) 2,410.00p 1.15%
Entain (LON:ENT) 1,379.50p 1.06%
Intermediate Capital Group (LON:ICP) 1,169.00p 1.04%
Antofagasta (ANTO) 1,350.50p 1.01%
Whitbread (LON:WTB) 2,564.00p 0.98%
FTSE 100 - Fallers
United Utilities Group (UU.) 1,011.50p -2.13%
SEGRO (SGRO) 814.20p -0.66%
Experian (EXPN) 2,874.00p -0.66%
Standard Chartered (LON:STAN) 582.00p -0.61%
SSE (LON:SSE) 1,713.50p -0.58%
Ocado Group (LON:OCDO) 627.60p -0.57%
Admiral Group (LON:ADML) (ADM) 2,078.00p -0.48%
Auto Trader Group (AUTO) 568.00p -0.46%
Bunzl (LON:BNZL) 3,077.00p -0.45%
Lloyds Banking Group (LON:LLOY) 45.36p -0.45%
FTSE 250 - Risers
Molten Ventures (GROW) 437.40p 4.89%
Morgan Sindall Group (MGNS) 1,656.00p 4.55%
Redde Northgate (REDD) 375.50p 2.88%
Britvic (BVIC) 791.00p 2.86%
Rotork (ROR) 293.60p 2.80%
Telecom Plus (LON:TEP) 2,400.00p 2.35%
WH Smith (LON:SMWH) 1,420.50p 1.68%
Ruffer Investment Company Ltd Red PTG Pref Shares (RICA) 316.00p 1.44%
Capricorn Energy (LON:CNE) 254.60p 1.43%
Urban Logistics Reit (SHED) 149.00p 1.36%
FTSE 250 - Fallers
Network International Holdings (NETW) 312.20p -4.76%
Auction Technology Group (ATG) 845.00p -4.74%
Pets at Home Group (PETS) 294.00p -3.29%
Moonpig Group (MOON) 160.30p -2.85%
TBC Bank Group (TBCG) 2,005.00p -2.67%
Premier Foods (PFD) 104.00p -2.62%
LondonMetric Property (LMP) 186.00p -2.11%
Tullow Oil (LON:TLW) 44.00p -2.05%
Babcock International Group (LON:BAB) 303.00p -2.01%
Hammerson (HMSO) 24.26p -1.94%