LEGAL & General was among the best performers in London's top-flight yesterday as it batted off the impact of recent pension reforms to post a boost in half-year profits.
Shares in the insurer rose nearly 3 per cent after it said interim pre-tax profits lifted 8 per cent to £547 million despite a 62 per cent fall in annuity sales.
A rally among miners after some positive economic data from China lifted the wider FTSE 100 Index, which closed 65.8 points higher at 6752.4 points.
Rio Tinto led the sector's charge, adding 4 per cent, or 97p, to 2567.5p, while BHP Billiton climbed 41.5p to 1200.5p and Antofagasta rose 16.5p to 591p.
The main European markets enjoyed a strong session with Germany's Dax and France's Cac 40 both ahead by more than 1.5 per cent.
In New York, the Dow Jones Industrial Average was in positive territory after a well-received round of corporate earnings figures.
Gains in London's top tier came despite figures suggesting growth in the UK's powerhouse services sector cooled last month in the latest sign that economic expansion has eased since a robust second quarter.
The closely-watched CIPS/Markit purchasing managers' index (PMI) survey showed a lower-than-expected reading of 57.4 in July.
But sterling held its own after data revisions by the Office for National Statistics (ONS) showed the UK economy grew more strongly than previously thought from 2011 to 2013, with further revisions for the period to date due later this year.
The pound was ahead against the US dollar at just under 1.56 and against the euro at a little above 1.43.
In shares, Legal & General added some encouragement from a life and pensions sector, which has been left reeling by legislation in April allowing pensioners to retire without having to buy an annuity.
The group's profits rose as it looked to other revenue streams, boosting its workplace auto-enrolment business under which employees are automatically signed up to retirement schemes at work. Shares added 7.3p to 270.7p,
Direct Line Insurance also lifted, up 8.8p to 384.6p.
Royal Bank of Scotland was another strong performer in the top-flight, rising 2 per cent, or 7.7p to 346.7p, prompting further criticism that the taxpayer was short-changed after making a £1 billion loss on the government's sale of a 5.4 per cent stake in the lender.
Brokers at Numis said the sale at 330p a share "achieved a new 2015 low and arguably sold the tax-payer short".
Asia-focused bank Standard Chartered was also in focus as half-year results showed pre-tax profits down 44 per cent to US$1.8bn (£1.2bn) and the group's interim dividend halved.
But a focus on cost cuts and streamlining under new chief executive Bill Winters – with 4,000 jobs already axed in the year to date – reassured markets.
Mr Winters also indicated an intention to improve investor returns in future. Shares rose 2.1p to 954.7p.
The biggest risers on the FTSE 100 Index were Rio Tinto up 97p at 2567.5p, BHP Billiton up 41.5p at 1200.5p, Antofagasta up 16.5p at 591p and Legal & General up 7.3p at 270.7p.
The biggest fallers on the FTSE 100 Index were Travis Perkins down 57p at 2160p, Sports Direct down 8p at 803.5p, Relx down 11p at 1121p and Hikma Pharmaceuticals down 23p at 2362p.
