The FTSE 100 has recouped some of yesterday’s losses, rising by 8.89 points within ten minutes of opening.
As of 0809 GMT, the index sat at 5,854.54. This is a marginal improvement on yesterday’s close, which saw stocks pushed down by poor Chinese and eurozone manufacturing numbers, weak UK retail sales and the coup in Mali.
Despite the bounce, the FTSE looks to be on track for its biggest weekly loss of the year.
BT Group headed the morning’s risers, jumping 4.31% to 229.7p. The telecommunications company announced it will put £2 billion into its pension fund as part of a new deal that will result in much smaller annual cash payments.
Engineering company IMI rose 1.64% to 963.5p, while home improvement retailer Kingfisher was up 1.63% to 312.4p. Advertising agency WPP gained 1.39% to 873.5p and Next added 1.17% to hit 2,948p.
Gold miner Randgold Resources stayed at the top of the biggest fallers’ list, followed by natural gas company BG Group, engineering consultancy Amec, insurance group Resolution and oil and gas exploration company Tullow Oil.