Miners were the big gainers in London on Wednesday, where the FTSE 100 gained 2.81 percent to 6,460 and the FTSE 250 was 3.09 percent higher to 11,136.3.
The five biggest gainers on the 100 were all in the mining sector, where gains came on hopes that the US interest rate cut will help prop up demand for metals.
Anglo American (LSE: AAL) had the best day on the 100, with a gain of 8.27 percent to £31.29.
Vedanta Resources (LSE: VED) was 7.74 percent higher to £20.73, while Kazakhmys (LSE: KAZ) was up 7.07 percent to £14.23, Xstrata (LSE: XTA) added 6.76 percent to £30.50 and Antofagasta (LSE: ANTO) gained 6.71 percent to 787p.
Elsewhere in the sector, BHP Billiton (LSE: BLT; NYSE: BHP; ASX: BHP) was up 6.3 percent to £16.27 and Rio Tinto (LSE: RIO) was 5.8 percent higher to £39.47.
Over on the 250, gold miner Randgold (LSE: RRS; NAS: GOLD) jumped 9.37 percent to £15.64.
Financial services group Bluebay (LSE: BBAY) had the best day on the 250, adding 20.58 percent to 470.25p.
Mortgage lenders also had a good day with Paragon (LSE: PAG) up 9 percent to 327p, while Bradford & Bingley (LSE: BB) gained 10.9 percent to 328p.
Northern Rock (LSE: NRK) dropped again, however, dropping 16.01 percent to 257p for the worst performance on the 100, on rumors that it has received a bid and could be sold for less than market value.
The tobacco sector was also lower on the session.
Imperial Tobacco Group (LSE: IMT) was 0.14 percent lower to £22.07, while British American Tobacco (LSE: BATS; AMEX: BTI; KLSE: BAT) was down 0.3 percent to £16.85.