London afternoon: Footsie jumps 120 points

After a strong morning session leading shares kicked on some more over the lunch time period, as worries over the eurozone debt situation subside. Talk that the European Central Bank may take more measures to deal with the debt crisis has buoyed European markets, with banks bouncing back more than most. Back in the UK, activity in the manufacturing sector hit levels not seen in 16 years last month, far exceeding analysts' expectations. The Markit/Chartered Institute of Purchasing and Supply (CIPS) manufacturing index jumped to 58 in November from 55.4 in October.In company news, Prudential is going strong after chief executive Tidjane Thiam made Asia the cornerstone of a plan to drive the life insurance group's profits strongly forward over the next two years. Thiam, who failed to conclude a deal to buy the Asian business of US firm AIG earlier in the year, has projected the Pru's Asian arm will double its 2009 pre-tax operating profit of £465m by 2013. Cash is also expected to roll in.Sage, the blue chip accountancy software firm, is also wanted. It posted a 14% increase in full-year underlying pre-tax profit thanks to the cost-cutting drive, mostly in North America. Profit before tax, with foreign exchange impacts neutralised, for the year ended 30 September rose to £355.7m from £311.1m in 2009. It was up 5% excluding last year's restructuring costs. Miners such as Fresnillo, Kazakhmys and Xstrata are sharply higher on the up after strong manufacturing data from China. Rio Tinto is also wanted after it approved a further $1.2bn investment to lift annual iron ore production capacity in Western Australia's Pilbara region to 283m tonnes per annum. Their gains are, however, overshadowed in many cases by the banks where Royal Bank of Scotland, Barclays and Lloyds are the pick of the bunch. The latter has poached two more top executives from Spanish rival Santander. Horta-Osório, who takes over as Lloyds chief executive next March, has appointed Juan Colombas as chief risk officer and Antonio Lorenzo as head of wealth management and international. Engine maker Rolls-Royce has bagged another big contract, this time a $420m deal with Hawaiian Airlines.On the down side, holiday firm Thomas Cook is a faller even though winter bookings are going well after a year in which profits were blighted by the volcanic ash cloud in April. Adjusted underlying profit before tax in the year to 30 September was in line with market expectations at £277.0m, down 6.1% from £294.9m the year before.Bank note printer De La Rue is on the way to earning itself the description of "recovery stock" as it tops the list of FTSE 250 risers, adding to the strong gains made yesterday. The stock was trading below 560p on Monday but is now well above 600p, with some rumour-mongers suggesting the crisis torn firm could be a good takeover target for Melrose, the conglomerate that specialises in reviving underperforming companies. Broadband satellite operator Avanti Communications reported a full year pre-tax loss as revenue fell but remained upbeat following the launch of its multi million pound HYLAS 1 satellite from French Guiana 26 November. Shares of Avanti soared earlier this week after the launch of the group's first satellite which, "is currently in orbit and operating as planned under our control," said Avanti chief executive David Williams.St Modwen Properties has continued to make progress across the business since the end of September and expects healthy year-on-year growth in profit, property valuations and net asset values for 2010, in line with forecasts.Infrastructure services group May Gurney posted record turnover and profit in the half year and issued a confident outlook after robust demand from the local authority highways sector.Fed up with its shares trading at a hefty discount to net asset value (NAV), property investment company Conygar is kicking off a share buyback programme. The company plans to buy back up to 2m of its shares. Clyde Process has agreed a £33m bid from German group Schenck worth 82.5p per share in cash.