The FTSE 100 index opened slightly up this morning, in a fragile recovery from yesterday's mammoth losses which saw it hurtle south of the 5,000 mark.
Early trading showed the index up 13.73 points or 0.28% to 4927.95 points, helped by commodities stocks.
Astra Zeneca was up 267p or 9.08% to £32.14 per share, with BP shares also opening up 10.75p or 3.55% at 313.65p per share.
Xstrata was also up 13.5p or 1.49% to 922.2p per share.
Schroders shares fell in early trading, dropping 8p or 0.77% to £10.26 per share.
Yesterday the FTSE lost 3% to close at its lowest level since last September.
Stock markets are expected to remain volatile today amid fresh fears over the global economic recovery and ahead of a crucial repayment by European banks of a €442bn (£362bn) European Central Bank loan.
Worst-than-expected economic confidence data from the US yesterday led already-jittery investors to unload their equity holdings at a staggering pace, hitting global markets.
The major indexes closed the day lower by around 3%, with the Dow Jones industrial average below the 10,000 threshold for the first time since early June.
The Dow Jones ended the day down 268.22 points, or 2.65%, at 9870.3 points.
Concerns about Europe and sliding US consumer confidence weighed heavily on the Asian markets.
Overnight the benchmark Nikkei shed 2%, or 188 points to 9,382.6.
The three months to the end of June was the Nikkei's worst quarterly showing since the last quarter of 2008, after the fall of Lehman Brothers.
Financial regulators renew anti-pensions scam campaign
Our weekly heads-up for advisers
Permissions regained on 10 August
Also worked at Westpac and Barclays
Auto-enrolment enforcement rises