* Banks up; Lloyds misses out as KBW cuts target price

* Miners lead rebound; gold hits historical high

* Oils higher as crude rises with weaker dollar

By David Brett

LONDON, Dec 1 (Reuters) - Britain's top share index was up 1.7 percent at midday on Tuesday, with banks and miners topping the leader board as concerns abated over Dubai's debt problems.

By 1220 GMT the FTSE 100 index was up 90.04 points at 5280.72, having fallen by 55.05 points or 1.1 percent on Monday to end at its lowest closing level for three weeks.

The blue chip index posted its biggest one-day percentage fall in eight months last Thursday after Dubai sought a debt standstill for state-owned conglomerate Dubai World.

Overnight on Monday Dubai World unveiled plans to restructure about $26 billion in debt out of the estimated total of $59 billion which it owes, reassuring investors that the emirate's debt problems can be contained. [ID:nGEE5B0041]