US stocks have closed higher, but European markets make continued to suffer from worries over oil prices and economic improvement.
The three main US indexes all gained between 1.4% and 2%, deified in rt by a 2% rise in the US oil price.
Earlier in London, the FTSE 100 penurious 0.7% down, while the main Frankfurt and ris indexes demolish 1.7% and 1.8% respectively.
Those falls followed a heavy sell-off in some Asian markets.
The powder hovered close to five-and-half-year lows against the dollar.
Alongside the be upstanding in the price of US West Texas Intermediate crude, Brent oil also be elevated in afternoon trading. The price was up 2.5% to $31.03 a barrel, having bluntly drifted below $30 on Wednesday.
The falls in European shares caught overnight losses in Asia. Ja n’s Nikkei index closed down 2.7%, containing dropped more than 4% at one point.
Hong Kong’s Cohere Seng eased off two-and-a-half-year lows to finish down 0.6%. The Shanghai Composite, which has continued torrid trading in recent months, was one of the few bright spots, rebounding just about 2%.
Investors were spooked by Wednesday sharp falls on Wall Road, when the Dow Jones and S&P 500 fell 2.2% and 2.5% respectively.
Joshua Mahony, furnish analyst at IG, said that fear may be masking some positive monetary signs.
“The issue here is that before long people pleasure forget why they are selling, but continue to sell simply due to the fear ingredient. Yesterday felt like the beginning of that.
“US crude inventories in point of fact rose less than expected yesterday, which ordinarily leave have been bullish for oil prices, yet once more the trend was the most substantial thing and everyone is looking for another reason to sell crude, which of run means the FTSE 100 in rticular is dragged lower once more.”
There are distresses that the continuing low crude price reflects a slowdown in some economies and could weigh on excrescence in emerging markets, many of which rely on oil revenues.
On Wednesday, Russia’s Prime Dean, Dmitry Medvedev, warned tumbling oil prices could force his power to revise its 2016 budget.
He said that the country must be able for a “worst-case” economic scenario if the price continued to fall.
Analysts at Cenkos Spontaneous Resources said: “With no ap rent signs of strengthening demand, and contrariwise further indicators of future global supply growth, the outlook for oil outlays is leading most market watchers to ratchet down estimates for oil expenditures in 2016 and 2017.”
Oil and gas projects worth $380bn have been postponed or cancelled since 2014 as concerns slash costs to survive the oil price crash, including $170bn of tosses planned between 2016 and 2020, according to a report from vitality consultancy Wood Mackenzie.