The FTSE opened optimistically this morning, after stronger-than-expected manufacturing figures raised hopes that the UK economy may have lifted out of the red further than originally estimated.

At mid-morning, the FTSE was trading around 57 points higher than last night's close. Medical device company Smith and Nephew was leading the way at 659.50p (+4.19%), driven by favourable tax rates and strong sales results. The mining sector dominated the top five risers overall, however, with Rio Tinto up 3.89%, followed closely by Xstrata (+3.80%) and Antofagasta (+3.43%). At the other end of the table, BT Group was the morning's poorest performer at 123.80p (-5.78%), after announcing its pre-tax profits for the first nine months of the financial year were down by 28%. The tables also turned since yesterday for inter-bank broker ICAP, the morning's second biggest loser at 328.30p (-2.58%).

Looking ahead to the US open, raised stock index futures may hint at a strong start to Wall Street, and results from the likes of PepsiCo and McAfee should add some interest to the session. Investors, however, will still be anticipating the European Union's decision on Greece, an issue which has weighed heavily on global markets this week as the country's budget crisis threatens to destabilise the euro.