The London market opened sharply higher this morning, building on strong gains in the previous session after a turbulent week.
The FTSE 100 Index was up 102.1 points to 5875.3, following positive overnight trading in Asian markets and a rise in oil prices.
The Footsie also jumped 100 points on Thursday, after European Central Bank (ECB) president Mario Draghi assured rattled investors there was “no limit” to measures it would take to steady the eurozone area.
The ECB left its key interest rates untouched today and did not ramp up its existing 1.5 trillion euro (£1.1 trillion) monetary stimulus programme, but held out the prospect of action in March which buoyed markets.
But top-flight shares fell more than 3%, or 203.2 points, on Wednesday, hitting their lowest level since November 2012 and officially slumping into bear market territory.
Brent Crude lifted by more than a dollar to 30.53 US dollars early in this session, after touching a 13-year low of 27.50 earlier in the week.
BP and Royal Dutch Shell were notable risers, lifting 7.8p to 349.7p and 48.5p to 1366p respectively.
Trustnet Direct market analyst Tony Cross said: “It seems that it was yesterday’s comments by Mario Draghi regarding further ECB stimulus that has been the game- changer – any change in this tune could quickly initiate a reversion.”