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At 08:43 GMT, the benchmark index was 0.2 per cent higher, as investors began to move into financial shares after reconsidering the risks posed by the fiscal stability of countries such as Greece, Reuters reports.
Gains of as much as 2.9 per cent were recorded by Barclays, Royal Bank of Scotland, Lloyds Banking Group, Standard Chartered and HSBC, helping the FTSE to rise 12.04 points to 5,104.37 points.
And mining businesses were up thanks to the strength of metal prices, with Xstrata, Rio Tinto, Lonmin, BHP Billiton, Anglo American and Kazakhmys adding between one per cent and 2.6 per cent.
City Index's Joshua Raymond noted that "bargain hunters" have been attracted to both sectors in the hope that they may rally following the recent falls.
However, there were retreats for a number of energy companies and sentiment was dampened by news that UK retail sales recorded the worst January performance for 15 years last month.
Posted by Greg Secker
