Jobs data from the US provided some much needed respite for investors on Friday, after the latest figures beat estimates.
Non-farm payroll figures showed 117,000 new jobs had been created in July.
Markets had been under the cosh - the FTSE 100 has been more than 2% lower for most of the day - but have reacted positively to the news.
London's leading index added almost 100 points shortly after that development but immediately plodded lower.
It is currently trading at about 5,320, still more than 60 points down from the opening bell.
Elsewhere in Europe, the German Dax briefly entered positive territory for the day before slipping under again while, in France, the Cac 40 is now almost 40 points higher at 3,358.
The jobs data, released by the US Department of Labor, also revised upwards figures for May and June, with an additional 56,000 jobs added on top of previous estimates.
July's figure was well above estimates, economists having forecast 85,000 new jobs according to a survey by Reuters.
It comes after some of the sharpest losses seen on Wall Street and around the globe for years.
Immediately after the release, US futures were indicating a higher opening, in a sign the nine-day sell-off could be halted.
David Miller, partner at Cheviot Asset Management, said the increase showed corprorate America was in good shape.
"After what has been a turbulent financial week, today's positive non-farm payroll figures will be better news for British investors," he said.
"The US labour market responds faster than European ones which was why when last month this indicator was well below what economists' forecast, this was badly received One month's poor data isn't critical, but two months would have a greater effect on the markets."
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