The FTSE 100, 海角视频's blue-chip index, opened 1.5 per cent higher this morning, clawing back some of the losses sustained over the previous three trading days in the wake of US President Donald Trump's extensive tariffs.
Yesterday saw the FTSE 100 plunge by more than four per cent as global stock markets grappled with the potential impact of a worldwide trade war, as reported by .
However, early trading this morning witnessed a cautious recovery in the market.
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The domestically-oriented FTSE 250 leapt 1.6 per cent in early deals, while the Stoxx Europe index 600 climbed 1.4 per cent.
Commodities-focused stocks on the FTSE 100 led the market upwards, buoyed by increasing commodity prices. BP saw a 2.6 per cent rise, while mining companies Antofagasta and Glencore both increased by three per cent.
US-centric tech stocks listed on the FTSE 100, such as Scottish Mortgage Investment Trust and Polar Capital Technology Trump, also demonstrated strong performance this morning.
In the meantime, the pound rose by 0.46 per cent after hitting a one-year low yesterday of around $1.27.
US stocks have also continued their recovery from the sharp downturn experienced in recent days, with Dow Jones futures up 1.7 per cent and S&P futures rising 1.3 per cent.
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Matt Britzman, senior equity analyst at Hargreaves Lansdown, cautioned: "This should hardly be seen as the end of the trouble, especially with President Trump showing no signs of easing his stance on perceived trade imbalances."
Despite Trump's threats to escalate tariffs on China beyond 100 per cent, Asian markets have remained unfazed.
Japan's Nikkei surged by six per cent this morning, while the Chinese Hang Seng and Shanghai Stock Exchange indexes experienced increases of 1.2 and 1.4 per cent respectively.
Gold, which had been negatively impacted by uncertainty surrounding Trump's tariffs, rose by one per cent this morning to exceed $3,000 again, although it is still down by 3.7 per cent over the past week.
"The underlying demand drivers haven't gone away, with investors looking to the rare metal as a way to shelter from some of the volatility plaguing equity markets," Britzman commented.