The FTSE 100 is trading 1.8% higher at 6,194 on the back of low-cost carrier Easyjet (EZJ) adding 5.4% to £17.63 after a trading update revealed that the group had seen stronger than expected unit revenue performance for August while its September outlook suggests uplift of around 6% in the airline's shorthaul network.
Also leading the blue chip leader board was Morrison Supermarkets (MRW), which advances 4.2% to 170p on rumours of a takeover by South African businessman Christo Wiese.
Embattled supermarkets titan Tesco (TSCO) ticks up 2.9p 187.75p on reports it is in the process of selling Korean business Homeplus to Asia-focused private equity firm MBK Partners in a £4 billion-plus deal.
Recruiter Hays (HAS) gains 3.1% to 162p ahead of US non-farm payrolls data, due tomorrow. Investors will be studying the release closely for any evidence of wage inflation. Sector peer Michael Page International (MPI) also gets a leg up in the market rally, adding 1.4% to 485p after adjusting for going ex-dividend with a 19.6p a share pay-out.
Cash and carry operator Booker (BOK) edges 0.5p higher to 179.5p following the Competition & Markets Authority's (CMA) clearance of its £40 million acquisition of Londis and Budgens in Great Britain. Given such good news, the share price reaction is subdued as Booker flags weak second quarter tobacco sales, depressed by the ban on small stores displaying tobacco products.
Car retailer Lookers (LOOK) motors 8.2% higher to 178.90p on the £87.5 million, immediately earnings enhancing acquisition of Addison Motors. Trading as Benfield, the long-established family business adds 30 dealerships and brings 'a truly national footprint' by boosting Lookers' North East presence.
News that allergy specialist Circassia Pharmaceuticals (CIR) is to join the FTSE 250 sends the shares 1.2% higher to 349.3p.
Lower occupancy warnings for the fourth quarter have not stopped investors from backing self-storage company Safestore (SAFE). The UK and Paris-focused business rises 2.5% to 302.7p on an 8.9% revenue improvement to £26.6 million in the three months to 31 July.
Public transport operator Go-Ahead (GOG) sheds 5.3% to £24.02 as the £1.03 million cap's full year results reveal that it would struggle to hit its target of £100 million operating profit within a year as the group's bus division underperformed.
A focus on its building products division sees building and engineering products specialist Alumasc (ALU) jumping 9.1% to 174p as the £57.6 million cap posts a 16% rise in underlying profit to £9 million for the year to the end of June. The group raised its dividend by 20% to 6p while earnings per share rose 9% to 12.3p.
Antibiotic developer Motif Bio (MTFB:AIM) climbs 9.8% to 66.7p on US regulator the Food & Drug Administration preparing to speed up the approval progress for its iclaprim intravenous treatment. The fast track programme is designed to help drugs treating serious conditions get to market faster.
Life science services and tool provider Horizon Discovery (HZD:AIM) trades 4.7% higher at 153.5p while Redx Pharma (REDX:AIM) rises 3.6% to 112.5p after the two form a cancer research collaboration. Horizon Discovery is one of Shares’ 15 picks of the year.