The FTSE100 is over 1% higher in mid-morning trading on a fairly volatile opening for many London blue-chip stocks. It is currently 58.40 points (1.1%) ahead to 5378.60.
Building supplies group Wolseley leads the way on rumours it may offload its US operations, up 10.83% to 391.50.
TUI Travel has bounced back form the Goldman Sachs downgrade, 8.75% higher to 212.50. Rival Thomas Cook is also doing well, 6.75% ahead to 213.50.
Retailer Kingfisher is also among the strong gains, up 7.71% to 132.70.
Tullow Oil is struggling after oil fell below $120 a barrel in New York, down 6.19% to 720. Miners are also sluggish once again, with Eurasian 4.81% lower to 950 and Ferrexpo declining 4.19% to 257.25.
In New York, a late dive sent Wall Street lower on Monday, with falling crude prices denting the oil giants. The Dow Jones IA closed 42.17 lower (0.37%) to 11284.15.
Exxon Mobil was expectedly hit by the falling crude costs, down 3.91% to 76.60. Aluminium producer Alcoa continued to feel the effects of lower metal prices, 3.42% to 31.04.
Pharmaceutical firm Pfizer led the gains, up 2.04% to 18.98; while Coca Cola added 1.43% to 53.90.
In Tokyo, Japanese investors also retreated from the falling commodity producers on Tuesday, sending the Nikkei 225 18.52 yen (0.14%) lower to 12,914.66.IFAonline
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