London stocks rose in early trade on Tuesday following heavy losses in the previous session, with a strong showing from oil giant Shell and IAG providing a boost.
At 0905 BST, the FTSE 100 was up 0.9% at 6,964.07.
Neil Wilson, chief market analyst at Markets.com, said: “A battling close lifted the spirits on a very tough day for equity markets on Monday. European markets are taking that bounce at the death on Wall Street – and a firmer close for Europe – and rallying this morning after a drubbing in yesterday’s session.
“Basic resources leading the way – what went down furthest yesterday is bouncing the most today. Shell rallied 3% in early trade, whilst IAG continued to catch bid on the reopening of the lucrative transatlantic trade.
“The question now is whether this rally has enough puff or if there is a tendency – as I suggested last Wednesday – to sell into rallies rather than buy the dip.”
Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.