The FTSE 100 Index soared by more than 100 points today as Vodafone's anticipated 130 million dollar (£84 billion) mega-deal to sell its stake in Verizon Wireless put fading worries about military action in Syria into the shade.
Blue-chip shares were also buoyed by healthy manufacturing data from China, alongside figures showing UK factory output increasing at a rate not seen for two decades.
The top-flight was up 109.3 points to 6522.2 as traders put a gloomy performance last week behind them and began September with a burst of bullish optimism on the trading floor.
Nervousness about an attack on Syria has been unsettling blue-chip shares but the rejection of action by Britain's Parliament and hesitation on Washington's Capitol Hill seems to have lifted the mood.
Data showing better fortunes for Chinese manufacturers added to the cheer, with the improvement in the world's second biggest economy helping miners.
Rio Tinto was up close to 5% at the top of the movers' board as it climbed 131.5p to 3044.5p while Anglo American lifted 4%, or 61.2p to 1539.8p and Antofagasta rose by 34.8p to 889.8p.
Vodafone went from strength to strength on the back of its widely-anticipated US deal, building on an 8% rise over the past week after confirming it was in "advanced discussions" about selling its stake in Verizon Wireless.
The deal looks likely to become the third biggest in corporate history and is so large that it should provide what is effectively a fresh dose of quantitative easing to the UK economy.
It is thought the bigger-than-expected price will ensure a big boost for pension funds and shareholders, with the mobile phone giant expected to use the proceeds for a special dividend of up to £40 billion. Shares were up nearly 4%, or 7.9p, to 214.2p.
Even rival BT got in on the act, following a ratings upgrade from Goldman Sachs amid increased confidence over the telecoms sector. Its shares were up 14p to 339.3p.
Oil company stocks, which had been boosted by the prospect of higher prices amid a fresh Middle East conflagration, fell back, with BP off 1.4p at 444.7p though Royal Dutch Shell managed to climb slightly 5.5p to 2178.5p on the surging market.
Outsourcing firms G4S and Serco, which have been under pressure over alleged mishandling of Government contracts, were among the handful of fallers. G4S was down 1.7p to 258.3p and Serco fell 2.5p to 545p.