A sharp $8 drop in oil prices has revived London markets this morning, with the FTSE100 currently 28.60 points (0.51%) higher to 5631.40.
The oil price sunk after Hurricane Gustav was downgraded, easing damage fears on US offshore drilling sites.
Thomas Cook leads a strong travel sector so far, 7.51% ahead to 247. Oil reliant British Airways is also revelling in the crude cost drop, up 6.02% to 277.50.
The Government’s housing market plan has lifted building supplies firm Wolseley, 7% to 492.75.
Tullow Oil and John Wood Group unsurprisingly head the losses, down 6.83% to 737 and 4.89% to 433 respectively.
Miners are also lower once again, with Eurasian 4.85% behind to 923.
In Tokyo, the shock resignation of Prime Minister Yasuo Fukuda led to the second straight day of solid losses for Japanese markets. The Nikkei 225 closed Tuesday 224.71 yen (1.75%) lower to 12,609.47.
In New York, Wall Street was closed on Monday for the Labor Day holiday.IFAonline
£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards