The FTSE 100 Index has gained 16.70 points, or 0.3%, to 6021.40 points this morning led by Anglo American and BP.
Anglo American has gained 1.2% to 2,356p on reports the mining company bought 490,000 of its own shares and now holds 4.24m shares in treasury.
BP has risen 1.1% to 672p after it said it will return as much as $65bn to shareholders between this year and 2008. Production in the first quarter increased outside of Russia, where a slowdown in growth resulted in an overall decline of 1.7%.
Severn Trent has also gained 1.4%, to 1,214p. Merrill Lynch upgraded shares of the water company to "buy" from "neutral", while Morgan Stanley raised the stock to "equal weight" from "underweight".
In Japan, the Nikkei 225 Stock Average lost 48.93 points, or 0.3%, to 17,243.98 points, led by steelmakers.
Nippon Steel declined 10 yen, or 2.2%, to 443 and Kobe Steel dropped 19 yen, or 4.2%, to 430.
Mitsubishi Estate lost 90 yen, or 3.2%, to 2,710, while Mitsui Fudosan dropped 90 yen, or 3.3%, to 2,665, as some investors judged recent gains excessive.
In the US, the Dow Jones industrial average was up 58.91 points, or 0.53%, at 11,203.85 points, helped by a drop in crude oil prices and comments from Federal Reserve officials that could signal the Fed is almost done with raising interest rates.
The Dow got one of its biggest lifts from 3M, up $1.16 at $77.
Citigroup shares gained 1.7%, or 80 cents, to $48.21 after the Federal Reserve Bank of New York lifted a ban that prevented the company from making acquisitions.
JPMorgan was also up 1.6%, or 68 cents, at $42.27.IFAonline
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