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.
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