The Dow Jones posted triple-digit gains in early trading on Thursday after positive economic data at home and abroad boosted sentiment.
The FTSE 100 lost 40 point in early trading on Thursday as BP shares continued to drop.
The FTSE 100 index rose by 0.7% to 5063.7 points in early trading led by Royal Bank of Scotland, which edged closer to significant asset sales.
Global markets are in freefall today following Wall Street's slide on Friday and on fears over a Greek-style crisis in Hungary.
The FTSE 100 opened higher in early trading by 20.32 points(0.39%) to 5231.50 as investors become more optimistic about prospects for a global recovery.
The FTSE 100 has opened 1.3% lower this morning as global indices continue to decline.
The Dow Jones has opened trading in negative territory with yesterday's surge petering out as cautious investors look to keep hold of profits ahead of the long weekend.
Global equity markets rallied yesterday as China denied reports it was reviewing its eurozone investments, with markets on both sides of the Atlantic climbing over 3%.
The FTSE 100 had a strong start to the day, up 1.15% to 5095.78, despite weaker news from the US overnight with the Dow closing below the 10,000 mark.
The Dow has opened in positive territory after a sense of calm was restored to world markets following yesterday's dramatic falls.