The FTSE 100 Index has gained 33.1 points, or 0.6%, to 5845.1 points this morning, led by rising oil prices.
BP has gained 9p, or 1.4%, to 640p. Oil traded near a record in New York on concern geopolitical tensions will disrupt supplies following North Korea's missile tests and amid higher gasoline demand in the US during driving season.
BHP Billiton has also gained 11p, or 1.1%, to 1037p.
Meanwhile, HMV has lost 6.25p, or 3.6%, to 167p. Net income fell to £56.2m as the book and music retailer battled increased competition from online retailers and supermarkets.
In Japan, the Nikkei 225 Stock Average slid 202.54 points, or 1.3%, to 15,321.40 points after a report on US factory orders and record oil prices indicated the Federal Reserve may keep raising interest rates.
Matsushita slid 35 yen, or 1.5%, to 2,325, Toyota Motor lost 50 yen, or 0.8%, to 5,890 and Advantest dropped 260 yen, or 2.2%, to 11,720.
Aiful, Japan's largest consumer lender, slumped 260 yen, or 4.6%, to 5,340 after the ruling Liberal Democratic Party said it will propose a law to cap the interest rates consumer lenders can charge.
Credit Saison tumbled 280 yen, or 5.6%, to 4,750 on top of a 6.3% fall yesterday.
In the US, the Dow Jones industrial average fell 76.20 points, or 0.68%, to close at 11,151.82 points yesterday.
Caterpillar shares fell 2.2%, or $1.64, to $73.13, while Boeing dropped 1.4%, or $1.13, to $80.17.
A surge in oil futures prices gave investors a reason to buy energy companies' shares, pushing Exxon Mobil up 0.6%, or 40 cents, to $62.55 and Chevron up 1.8%, or $1.13, at $63.88.IFAonline
Chris St John to take over £3bn UK Select Opps
The majority of financial advisers (85%) believe the number of self-invested personal pension (SIPP) providers will continue to fall in the coming year, according to Dentons Pension Management research.
Short-term noise or something sinister?