London is leading the way in Europe, though the continent's main share indices are mostly in the green.
The Footsie is up 0.7% at 8006, with miners and oilers the main driving force. Asia-focused banks HSBC (LON:HSBA) and Standard Charted are also up, following encouraging data from China in recent days, though more UK domestically aligned lenders are also firmly positive.
Over on the continent, Germany's DAX is up 0.15%, France's CAC has risen 0.3%, Spain's IBEX is just above flat and Italy's FTSE MIB just below.
The wider Euro Stoxx 600 is up 0.4% at 514.71 and the STOXX 50 up 0.5%.
Blue-chips break above psychological barrier The FTSE 100 has broken above 8000, with a gold and silver miner top of the leaderboard as geopolitical tensions lift precious metals prices.
Up just over 50 points this morning, the index has climbed to 8,003.53, a gain of 0.64%.
Precious metals miner Fresnillo is top of the tree.
Some comment on what's driving the commodities rises, with copper and iron ore prices gaining on strong Chinese PMI data while gold defies the higher US yields and a stronger dollar to hit a fresh record of $2,264 yesterday. It retreated but is back on the up again today at $2,254.
"The price of an ounce [of gold] hit a fresh record yesterday on the back of rising uncertainties regarding the actual risk rally and the mounting geopolitical tensions after Israel has reportedly bombed the Iran embassy in Damascus," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
This has also boosted oil prices, says Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown (LON:HRGV). "An Israeli airstrike on Iran's embassy in Syria, which has killed Iran’s top commander, has reignited geopolitical tensions, and squeezed the oil price higher in return.
"Brent crude is now trading at over $88 a barrel, as concerns over supply spill over into the price. At the same time, there’s little expectation that OPEC’s production policies will loosen, adding further pressure.”
Later this morning, investors will be watching German CPI data and Eurozone final manufacturing numbers.
Ozkardeskayasays says soft figures could further revive the European Central Bank doves and increase the downside pressure on the euro.
Later on, it will be US jobs and factory order data. "Job openings are expected to have further fallen while factory orders are expected to have jumped in February. Any positive surprise on both data should continue to soften the Fed doves’ hands into Friday’s official jobs data and back a further rally in the US dollar across the board," she says.
FTSE 100 tantalisingly close to 8000 level The FTSE 100 has shot higher in early trading, tantalisingly close to the 8,000 mark last broken over a year ago.
After a quarter of an hour, the blue-chip index had risen almost 47 points to 7,999.38.
Miners and oilers led the push higher, with commodities giant Glencore PLC (LON:GLEN) and precious metals miner Fresnillo PLC (LON:FRES) the top risers.
China data is a likely reason, with the Caixin manufacturing index rising to its highest in 13 months, echoing an improved reading in the weekend's official manufacturing gauge for March as both manufacturing PMIs reach positive territory for the first time since September.
"China stocks notched their biggest daily gain in a month yesterday after the latest manufacturing PMI data reinforced economic recovery hopes in the world’s second biggest economy," noted Deutsche Bank (ETR:DBKGn) analyst Peter Sidorov.
Not far behind on the London leaderboard are Antofagasta PLC (LON:ANTO), Rio Tinto (LON:RIO) and Anglo American (JO:AGLJ), along with oil majors BP PLC (LON:BP) and Shell PLC (LON:SHEL).
Higher crude oil prices have lifted the latter, with Brent crude futures up 0.8% to $88.10 a barrel.
Car dealer deal? Car dealer Inchcape PLC (LON:INCH) may have found a potential interested buyer in US rival AutoNation Inc (NYSE:AN).
In January the company said it had received "approaches from a number of interested parties" and was reviewing options for its UK retail business, potentially including a sale.
Sky News reports that AutoNation is "among the suitors circling the business" and is at the early stages of considering an offer.
Six months ago, the US group withdrew from a bidding war for Inchcape's UK rival Pendragon.