Another strong start for mining stocks has driven the FTSE100 higher in mid-morning trading, up 66.30 points (1.22%) to 5514.90.
The overnight bump in crude costs has boosted oil services group Petrofac, currently 6.82% ahead to 556.
Miners hold the other top five spots, with Antofagasta 5.95% higher to 570 and BHP Billiton 5.42% up to 1594. Rio Tinto and Ferrexpo are both 4.87% ahead so far.
Rolls-Royce has lost ground after announcing a new engine joint venture with the Goodrich Corporation, 2.17% lower to 394.25.
FirstGroup and Unilever are also sluggish early, down 1.74% to 565.50 and 1.33% to 1486 resprectively.
In New York, a late rally was not enough to save Wall Street from another disappointing session on Wednesday, with the Dow Jones IA closing down 109.51 points (0.94%) to 11532.96.
General Motors lost the most ground despite rumours it is close to offloading its Hummer operations; finishing 7.57% lower to 10.26.
Merrill Lynch’s warning on bank capital positions and more write-downs smacked the financials sector, with Bank of America 7.29% behind to 28.86 and Citigroup down 3.94% to 17.81.
Aluminium producer Alcoa enjoyed solid gains, up 4.17% to 32.25. The oil giants lifted on higher crude prices, Chevron 3.21% higher to 86.24 and Exxon Mobil 1.68% ahead to 78.17.
In Tokyo, Japanese stocks dipped a third straight day as investors continue to react to the country’s poor growth figures. The Nikkei 225 closed Thursday down 66.25 yen (0.51%) to 12,956.80.IFAonline
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