The FTSE100 is in recovery mode this morning, with oil stocks leading the fightback from yesterday's sharp slide. London's blue chip index is currently 29.50 points (0.54%) higher to 5529.20.
News it has appointed Nestle's Paul Polman as its new chief executive has driven Unilever to the best opening, up 6.04% to 1580.
The oil giants aren’t too far behind, with BG Group 4.2% ahead to 1091 and BP 4.15% higher to 527. Oil services provider Petrofac is also among the action, 3.81% up to 626.50.
Financials are finding it tough this morning however, with HSBC 1.67% lower to 869 and Lloyds TSB 1.48% behind to 299.
In New York, it was a mixed day for Wall Street on Wednesday with small gains for the Dow offsetting losses for the Nasdaq and S&P 500. The Dow Jones IA advanced 15.96 points (0.14%) to 11532.88.
Better than forecast August sales figures boosted General Motors, up 5.82% to 11.27. Retailer Home Depot also lifted, 4.49% higher to 29.33.
Financials climbed on the Lehman Brothers takeover rumours, with AIG 3.86% ahead to 22.58. Bank of America and Citigroup were also among the top stocks.
The tech sector struggled however, with Intel 4.61% lower to 21.54 and Hewlett Packard 1.98% behind to 45.09.
In Tokyo, Japan’s large shipping groups suffered on Thursday as cargo rates dipped on slumping commodity prices. The Nikkei 225 finished 131.93 yen (1.04%) down to 12,557.66.IFAonline
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