HSBC led the FTSE 100 Index higher today as investors cheered the announcement that it was considering moving its headquarters out of the UK.
Europe's biggest bank, which is one of the top-flight's biggest hitters, climbed 3% as the wider index added 17 points to finish at 7070.7.
The FTSE 100 was also lifted by a positive performance from commodity stocks.
In currency markets, the pound advanced against the greenback after weak durable goods figures in the US showed firms were pruning investment plans.
Sterling added a cent against the US dollar to nearly 1.52 while it was also ahead against the euro at just under 1.40 as debt-laden Greece remained at loggerheads with European creditors amid fears of its possible exit from the single currency zone.
However, equity markets on the continent were ahead after a closely-watched survey showed rising business confidence in Germany, helping Frankfurt's Dax and Paris's Cac 40 both rise.
On Wall Street, the Dow Jones Industrial Average was little changed.
In London stocks, HSBC was boosted following remarks by chairman Douglas Flint to its annual general meeting that in the wake of "regulatory and structural reforms" it would "look at where the best place is for HSBC to be headquartered".
Reforms have meant the bank having to separate its investment bank from the retail division serving ordinary customers and businesses.
It has also faced a rising toll from the banking sector levy, costing it 1.1 billion US dollars (£730 million) last year, in addition to intense political pressure over the claims its Swiss private bank helped thousands of clients avoid tax.
Laith Khalaf, senior analyst at Hargreaves Lansdown stockbrokers, said: "The positive reaction to HSBC's announcement underlines the downward pressure the bank levy places on all bank shares."
The stock rose 17.5p to 629.7p. Asia-focused rival Standard Chartered, which is also London-based, lifted on speculation that it might follow suit. Its shares added 8p to 1070p.
Commodity stocks also lifted the FTSE 100, with Glencore up 7.9p to 311.2p, BHP Billiton up 32.5p to 1564p and Anglo American up 20p to 1082p.
Outside the top-flight, fashion retailer French Connection slumped 26% after it issued a profits warning due to continued difficult trading conditions.
Analysts at Cantor Fitzgerald now expect the company to register a loss of £3.5 million for the 2015/16 financial year, compared with their previous forecast for a profit of £500,000.
Shares have now fallen by more than half since last May and were down by 13.9p to 39p today.
Meanwhile, AstraZeneca shares were down nearly 2% or 80.5p to 4749.5p as it reported a fall in first quarter revenues and profits. The share price decline came despite the company's upbeat assessment of its drugs pipeline.
The biggest risers in the FTSE 100 Index were HSBC up 17.5p to 629.7p, Glencore up 7.9p to 311.2p, CRH up 45p to 1900p and Mondi up 32p to 1354p.
The biggest fallers in the FTSE 100 Index were Pearson down 42p to 1360p, Aberdeen Asset Management down 13.9p to 473.6p, Randgold Resources down 85p to 4950p and AstraZeneca down 80.5p to 4749.5p.
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