London - FTSE 100 index rose 0.3 percent in early trading on Wednesday as European and Asian bourses swept to multi year highs and as ICI leapt more than 9 percent on a sale of one of its units.
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ICI shares climbed to their highest since March 2001 after Swiss flavours and fragrances maker Givaudan said it agreed to acquire rival Quest International from the UK chemicals firm for 2.8 billion Swiss francs.
The overall index was helped higher by rising global markets, with the MSCI world index reaching a record high in early European trading. European stocks jumped to their highest in 5 1/2 years.
"A rally on Wall Street off Tuesday's late morning lows, combined with an upbeat performance in Asian markets overnight, should offer some upside," said Matt Buckland, a trader at CMC Markets.
UK investors awaited the release at 0930 GMT of the minutes of the Bank of England's latest policymaking meeting for indications on future interest rate decisions.
By 0840 GMT, the FTSE 100 index was up 20.2 points, or 0.3 percent, at 6,222.4. Dealers said trading volumes were thinning ahead of the U.S. Thanksgiving Day holiday on Thursday.
Oil and gas producers led the index, with BP and Shell both adding about 1 percent. Oil held above $60 a barrel on Wednesday, helped by expectations of a decline in fuel stocks in the United States.
POSITIVE RESULTS
Shares in Johnson Matthey rose 0.6 percent after rising platinum prices boosted first half sales at the precious metals refiner, which reported an 8 percent rise in first half profit on Wednesday.
"The results are bang in line with their expectations they've had a good run," said David Buik of Cantor Index.
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