The Pentagon announced on Thursday that Boeing had won a fiercely-contested competition to supply 179 air-to-air refuelling aircraft.
"Cobham has been selected by Boeing to provide hose and drug aerial refuelling systems for use on the US Air Force's new KC - 46 A Tanker Aircraft," the company said.
Further down the market, entertainment one was on the rise. The media group behind Peppa Pig perked up 3½ to 147p as it proposed to issue up to 8 m new shares at a price of no less than 145p.
Entertainment One said it was actively considering a range of small deals that would boost earnings.
3. 25 pm: Blue-chips break back through 6,000
The blue-chips broke through the 6,000 barrier back as traders caught up following this morning's –Canada and Wall Street opened higher.
The FTSE 100 jumped 82 points to 6002 while the FTSE 250 put on 180 points to 11590.
The Dow Jones Industrial Average advanced 69 points to 12136. as Wall Street shrugged off a government report that the US economy grew more slowly than first thought in the fourth quarter. Market watchers pointed to the fact that the fine detail of the figures showed there were foundations for sustainable growth.
Back on this side of the Atlantic, there were only three losing stocks as the benchmark index surged back into positive territory.
Amongst the second-liners, Spectris 12pc spiked on news that the electrical engineer's annual profits doubled to £ 119. 9 m.
Spectris also said that it would look at acquisitions this year.
Talk of an acquisition was also helping Mouchel as its takeover saga took another turn.
After Mouchel said on Thursday that it was in "advanced discussions with one potential offeror", Interserve today revealed that it was the business services' group's suitor.
The support services and construction company confirmed that it had made an approach to Mouchel with an indicative proposal. Interserve shed 3.5 to 246 75 while Mouchel put on 1.75 to 154 25 p.
Writing on the development, analysts at Espirito Santo said:
"While Interserve is a very different business to Mouchel, its lower value services would complement Mouchel's highways business, allowing them to enter this market as a near leader." While there is some overlap in Government Services limited, Mouchel would essentially push Interserve up the value chain better positioning them to win bundled local authority outsourcing activity. "Finally, Mouchel's troubled Middle East business could prove to be an asset for Interserve given its existing presence and scale across the region."
12.35: Trading resumes after earlier technical issues
After a lie-in Loescher, the market has finally woken up. The London Stock Exchange was forced to halt trading less than ten minutes after the market opened thanks to a technical glitch, but trading began again at 12.15.
The unexpected half-day's holiday clearly did the benchmark index good though, with the FTSE 100 shaking off this week's jitters to advance 54 points to 5974. The FTSE 250 put on 105.4 points to 11514.
eurasian Natural Resources Corporation ticked up 3 FP7 to take the top spot, while Lloyds banking Group fell 4pc to take the wooden spoon.
On the second tier, the London Stock Exchange fell 7.5 to 5 885 p.
8.50: LSE forced to halt trading less than ten minutes after the open
The London Stock Exchange was forced to halt trading less than ten minutes after the market opened on Friday morning, citing technical issues.
The FTSE 100 index of leading shares had opened 0 28pc higher, to 5,936.
However, the halt in trade was not enough to stop Lloyds slipping almost 5pc to 5 62 p, as its £ 2bn 2 pre-tax profit met expectations but the group's margin outlook failed to impress.
Shares in british sky broadcasting rose 1. 46pc to 768p after a report in the Financial Times suggested Rupert Murdoch's News Corp was close to a deal with regulators over its bid for the company.
Elsewhere, European markets followed Asia's lead, as oil prices settled after rising to almost $120 a barrel on Thursday.
Frankfurt's DAX 30 added 0 13pc to 7,130.50, and in Paris the CAC 40 index rose 0 48pc to 4,029.07.
6 am: Asia boost as oil fears reduced
Asian markets bounced back from a week of losses as worries over Libya's oil supply eased.
Japanese stocks rose for the first time in four days as oil retreated and economic reports tempered concern about turmoil in the Middle East.
The nikkei 225 Stock average rose 0 FP7 to 10,526 at the close in Tokyo, its biggest gain since February 14.
China's stocks fluctuated as banks gained on speculation easing inflation will reduce the need for tightening measures, while oil refiners and airlines fell on concern higher crude prices will curb earnings growth.
The shanghai Composite Index edged down in afternoon trade to 2,877.
The Hang Seng Index increased 1.53 percent to 22,946, the biggest advance among benchmarks in Asia.
The gain halted has more than 4 2pc decline in the last four days, and pared its decline for this week to 2 FP7.
Overnight on Wall Street, the dow jones Industrial average fell 0 3pc to 12,068.
Friday's Market Report
Half-day holiday puts a spring in Futsee's step
Thursday's Market Report
Oil explorers bubble up as fuel prices surge
Wednesday's Market Report
Surging oil prices unsettle nervous market
FTSE today: market report - as it happened February 23, 2011
Tools: Shares and Markets: News, charts, data
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