Shares moved higher on both sides of the Atlantic amid hopes that European and US leaders are making progress towards agreeing solutions to debt problems.

It was US corporate news that boosted today's star sector in London though. Chip companies ARM Holdings and Imagination Technologies sizzled after strong results from the California tech giant Apple, which uses their technology in its gadgets.

Among UK stocks updating today, mining giant BHP Billiton was in demand after it achieved another iron ore output record in the year ended 30 June, its eleventh consecutive annual production record. The firm said that annual production records were achieved across four commodities and ten operations "as a result of our strategy to invest throughout the economic cycle."

Fellow miners Lonmin, ENRC and Rio Tinto were also wanted.

Drugs giant AstraZeneca fell after it (along with US peer Bristol-Myers Squibb) received a blow when the US Food and Drug Administration's (FDA) Advisory Committee rejected their jointly-developed diabetes drug, dapagliflozin, though the vote was a close one.

Also in drugs, rattlesnake bite treatment maker BTG reported trading in line with expectations but was rattled by Peel Hunt lowering its rating on the firm to "hold" from "buy."

London Stock Exchange (LSE) rose after the stock markets operator put behind it the disappointment of its failed merger with its Canadian counterpart TMX to announce a strong start to its financial year. "With an increase in total income of 14% and growth in many business areas, these strong first quarter results confirm that we continue to make good progress," said Xavier Rolet, the chief executive.

Americas-focused silver and gold miner Hochschild Mining moved ahead after it said that it is on track to hit its production targets despite silver output falling by 13% in the first half.

Hygiene technologies group Byotrol rocketed more than 50% after saying it has inked a potential multi-million pound contract to supply hand hygiene and surface sanitisation products to pest control services provider Rentokil Initial.

Shares in Russia-focused oil and gas firm Matra Petroleum plunged by over a third on Wednesday after the AIM-listed explorer reported a leak at its operations in the Sokolovskoe Field. After a planned workover on well-12 finished last month, the well was returned to production on 2 July. While the well averaged 352 barrels per day since then, a water cut of around 42% meant that it averaged just net 203 barrels of oil per day.

Shares in Motive Television jumped after it said it had developed technology that allows viewers to watch pre-recorded audio-visual material on their laptops, Apple iPads and other tablet and mobile devices.

FTSE 100 - Risers
Barclays (BARC) 222.60p +5.20%
ARM Holdings (ARM) 611.00p +4.89%
Lloyds Banking Group (LLOY) 44.91p +4.10%
ITV (ITV) 67.20p +3.78%
Royal Bank of Scotland Group (RBS) 34.11p +3.08%
RSA Insurance Group (RSA) 135.70p +3.04%
Prudential (PRU) 682.50p +2.71%
Wolseley (WOS) 1,878.00p +2.57%
BP (BP.) 472.00p +2.48%
Petrofac Ltd. (PFC) 1,489.00p +2.41%

FTSE 100 - Fallers
Glencore International (GLEN) 482.00p -1.29%
Imperial Tobacco Group (IMT) 2,113.00p -1.26%
ICAP (IAP) 465.90p -1.25%
Sainsbury (J) (SBRY) 313.10p -0.92%
Marks & Spencer Group (MKS) 352.20p -0.54%
BG Group (BG.) 1,397.00p -0.53%
Fresnillo (FRES) 1,652.00p -0.48%
Tullow Oil (TLW) 1,273.00p -0.47%
Autonomy Corporation (AU.) 1,698.00p -0.29%
Morrison (Wm) Supermarkets (MRW) 293.70p -0.27%

FTSE 250 - Risers
Imagination Technologies Group (IMG) 419.00p +10.15%
Misys (MSY) 411.00p +7.76%
AZ Electronic Materials SA (WI) (AZEM) 283.50p +4.27%
Taylor Wimpey (TW.) 36.92p +4.00%
Henderson Group (HGG) 160.80p +3.81%
IG Group Holdings (IGG) 450.00p +3.76%
London Stock Exchange Group (LSE) 1,030.00p +3.36%
Lancashire Holdings (LRE) 696.00p +3.19%
Premier Farnell (PFL) 188.10p +3.12%
Domino's Pizza UK & IRL (DOM) 459.00p +3.03%

FTSE 250 - Fallers
Cable & Wireless Communications (CWC) 37.81p -3.15%
COLT Group SA (COLT) 131.80p -3.09%
International Personal Finance (IPF) 344.00p -2.82%
Dixons Retail (DXNS) 15.70p -2.67%
Cable & Wireless Worldwide (CW.) 43.00p -2.27%
Telecom Plus (TEP) 647.50p -1.89%
Gem Diamonds Ltd. (DI) (GEMD) 241.60p -1.39%
Devro (DVO) 269.30p -1.36%
Genus (GNS) 989.50p -1.25%
Home Retail Group (HOME) 136.80p -1.16%

Related share prices
AstraZeneca (AZN) share price
Barclays (BARC) share price
Rio Tinto (RIO) share price
WPP (WPP) share price
ARM Holdings (ARM) share price
Lonmin (LMI) share price
BTG (BGC) share price
Imagination Technologies Group (IMG) share price
London Stock Exchange Group (LSE) share price
Matra Petroleum (MTA) share price
Motive Television (MTV) share price
Byotrol (BYOT) share price
Hochschild Mining (HOC) share price
Eurasian Natural Resources Corp. (ENRC) share price