Vodafone propped up the FTSE 100 Index today following its long-awaited confirmation that it is in talks over the lucrative sale of interests in the US.
The 8% jump for shares in the market heavyweight added an estimated 33 points to the FTSE 100 Index, which was 35.5 points higher at 6465.7.
Vodafone's ascent diverted attention away from worries over the situation in the Middle East, although sentiment for global markets improved due to signs that military action against Syria was not imminent.
Vodafone was the biggest riser in the FTSE 100 Index - up 15.25p to 204.55p - after it said that it had resumed discussions over the potential sale of a 45% stake in Verizon Wireless.
It is thought that partner Verizon Communications wants to pay around 100 billion US dollars (£64.4 billion) for the stake, although reports have said that Vodafone is pressing for as much as 130 billion US dollars (£83.8 billion).
The Newbury-based company is likely to set aside a large chunk of the US sale proceeds on debt repayments and share buy backs, as well as a war chest for acquisitions.
Other big risers included advertising and marketing giant WPP after it raised its full-year outlook on the back of improving demand in the UK and United States.
The world's biggest advertising agency, which is set to be overtaken by the recently-announced merger of rivals Publicis and Omnicom, said like-for-like revenues growth hit 5% last month, up from 2.4% over the first half of the year.
It reported more than half a billion pounds in half-year profits for the first time, with underlying pre-tax profits up more than 12% to £524 million.
Shares were almost 4% higher, up 45.5p to 1223.5p.
The fallers board was topped by outsourcing services firm Serco after it emerged last night that the Government had uncovered potentially fraudulent behaviour in the management of its £285 million prison escorting contract.
The group, which runs a vast range of services from prisons to rail services, admitted revenues would be hit and new deals delayed following the latest controversy, which centres on its £285 million prisoner escorting service.
Investors took fright despite seeing adjusted profits before tax rise 11% to £127.1 million on revenues that were up 12% to £2.55 billion. The group said expectations for the full year were unchanged but shares were still 85p lower at 521.5p.