The FTSE100 has opened strongly this morning after yesterday's poor session, with oil groups driving the index up 38.90 points (0.63%) to 6230.50 so far.
Oil stocks are dominant as crude prices hit record highs in the US, Royal Dutch Shell 'A' shares are up 3.41% to 2214. BG Group and Cairn Energy are also higher, up 3.1% to 1363 and 2.47% to 3606 respectively.
Miners have also rebounded, with Kazakhmys 2.46% ahead to 1836.
Imperial Tobacco is plummeting as reaction from its right issue call continues; it is 13.44% lower to 2125.
Home Retail is also struggling on a poor day for consumer groups; it is down 5.62 lower to 235.
In New York, the Dow Jones IA struggled on Tuesday as the high price of oil and heightened inflation concerns smashed investor confidence. The index closed the session down 199.48 points (1.53%) to 12828.68.
Retailer Home Depot was stung as it saw earnings dip 66%. It finished 5.2% behind to 27.37.
Financials were again pounded as more write-off and capital raising gloom surrounded Wall Street. JPMorgan Chase dropped 4.98% to 43.70 and Citigroup plunged 3.83% to 22.11.
General Motors fell below $20 on a poor day for the car maker, down 4.84% to 19.86.
The only two stocks to climb were oil giants Chevron and Exxon Mobil, up 0.87% to 103.09 and 0.21% to 94.56 respectively.
In Tokyo, Japanese stocks experienced their sharpest dip in nearly two weeks as concerns for the country’s banking sector surfaced. The Nikkei 225 index closed Wednesday down 233.79 yen (1.65%) to 13,926.30.
Elsewhere in Asia/Pacific, Hong Kong’s Hang Seng fared better, up 229.53 points (0.91%) to 25,398.99; but Sydney’s S&P/ASX 200 lost most of the week’s, falling 84.70 points (1.43%) to 5,823.40.IFAonline
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