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According to Bloomberg, the market had risen 1.46 per cent to 4,156.14 points at 13:53 BST as 91 of its members recorded higher share prices.
Leading the rally was the Royal Bank of Scotland, which gained 12.54 per cent to 36.9p per share.
Lloyds Banking Group and Barclays posted rises of 7.01 per cent and 5.81 per cent respectively, while Anglo American and Kazakhmys also saw their share prices increase.
Of the companies to fall in value the Home Retail Group was the worst-hit, with the owner of Argos and Homebase sliding 3.7 per cent after revealing profit declined 24 per cent in the year to February 28th.
The climb sees the FTSE reverse two days of losses, which had been brought on partly by fears over the economic impact of a potential swine flu outbreak.
