During early trading, the FTSE 100 added 15.2 points, up to 6,292.5. This was a modest recovery from the 28.3 point fall that occurred on Tuesday, when there were concerns over global tensions, after a Russian warplane was shot down by Turkey.
AvaTrade chief market analyst Naeem Aslam noted that European markets were starting to shake off some of the geopolitical tensions, and focus on the economic fundamentals surrounding them, rather than just the political aspects. The political tensions have given a strong foundation for the oil market, but there could be some very real political and economic consequences to the recent events and the tension between Turkey and Russia.
US shares gained overnight, while Asian markets were mixed. Shanghai shares gained 0.3 percent, and Malaysian and Indonesian stocks also posted some modest gains. Global tensions again were underlining the markets.
In the domestic market, Chancellor George Osborne has plans to announce increased spending on housing today, and is looking to provide support for private developers and local authorities to support the construction of about 400,000 new homes. This is part of the broader plans for the Autumn Statement and the ongoing spending review.