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By 11:34 GMT, the index had risen 32.42 points to 5,675.05 points, with Lloyds Banking Group adding almost nine per cent, Reuters reports.
The bank said this morning it expects to return to profitability in 2010 and the news also boosted other financial stocks, with Barclays, Royal Bank of Scotland, ICAP, Man Group and Schroders all gaining.
Today was 'quadruple witching day' - which saw the expiration of a combination of futures and options - and Joshua Raymond of City Index explained that markets "tend to be a bit jumpy" when this happens.
He added: "The markets recovered yesterday's losses to push higher on Friday," noting Lloyds's announcement came as a surprise because the 2009 financial results it announced last month were largely disappointing.
Financial stocks were not the only strong performers on the FTSE, as mining firms such as Xstrata and Fresnillo were higher as a result of stronger metal prices.
Posted by Clive Arneil
