The FTSE 100 rose 1.48% or 76.18 points to 5,227.50 as sentiment was boosted by a strong showing from Wall Street and Asia overnight.
The FTSE 100 has opened 1.3% lower this morning as global indices continue to decline.
Miners are among the early fallers on the FTSE as European markets tumble following a ban on naked short-selling in Germany.
The FTSE opened more than 30 points up Thursday as investors were buoyed by Spanish plans to tackle its budget crisis, a host of strong trading updates and a rally on Wall St.
The FTSE edged higher while sterling fell from a 10-month high on the first day of the UK's new Coalition Government.
The FTSE was flat in early trading this morning at 5345.24 points as Europe's markets regained some composure after going into temporary freefall over the past two days.
Miners fell sharply this morning on news the Australian government plans to introduce a new 40% tax on resource projects from July 2012.
The FTSE 100 opened lower in early trading, falling 0.24% or 13.76 points to 5740.09, despite a raft of positive earnings announcements.
The FTSE 100 fell 0.16% to 5,774.29 in early trading, despite British Airways shares rising this morning.
Miners rebounded from yesterday's falls to lead the way in early trading this morning, driving the FTSE 100 up 22.3 points (0.4%) to 5,784.