The FTSE 100 is up 59.50 points today to 4,454.70 after nine out of every 10 stocks in the index made gains following yesterday's big sell-off caused by interest rate fears in the US.
Schroders gained most, up 35.5p to 620.5p as investors abandoned the view that higher US interest rates will automatically mean lower earnings and profits for UK companies.
Standard Chartered gained 30p to 863.5p on statements it may make acquisitions in the fast-growing Indian and Chinese banking markets.
British Airways gained 9p to 263p after it said it would start charging more for tickets to cover rising fuel costs – crude oil prices are at their highest since the early 1990s.
Cable & Wireless dropped 0.25p to 115.75p after a US court judge said the company could put a financial reorganisation proposal to creditors.
The FTSE 250 jumped 58.3 points to 6,001.2, led by technology stocks.
Spirent, a maker of telecoms testing equipment, gained 7.75p, or 13% to 66.25p after reporting a rise in first quarter earnings and stating that the order outlook was growing.
Enodis, a maker of deep fat fryers for McDonalds and other restaurants, fell 6.5p to 85p after reporting the weak dollar will hurt its full-year profits.
Shares have recovered somewhat in New York so far today.
The Dow Jones Industrial Average index is up about 31 points to 10,021, led by Intel, which gained about 3% on news of rising chip inventories being built up to meet forecast rising demand.
The broader S&P 500 index is up about 7 points to 1,094.IFAonline
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