The FTSE100 was up 68.6 points at 5,601.3 with the FTSE250 up 245.6 points at 9,074.2 and the FTSE Smallcaps 47.1 points higher at 3,332.
Volume was good with 1.423 billion shares changing hands in 216,368 deals.
After Monday's lowest close in five months, the FTSE shows some gains today, ahead to Wall Street, the DJIA is expected to recover from yesterday's more modest decline, with spread bettors IG Index expecting the DJIA to open around 13 points higher at 11,138.
However, caution is sure to remain in New York, amid interest rate and inflation uncertainties, ahead of some key US economic data due later this week.
Crude Oil prices once again touched $70 a barrel on fears the US will suffer at the hands of yet another Atlantic hurricane season. The oil price rise provided a lift to oil the majors in London, with the sector recovering after yesterday's sharp falls.
Today’s look at individual Stocks:
Cairn Energy was the top FTSE100 riser today, up 124p to 2,107p. Shell gained 54p at 1,823p, BP gained 16.5p at 626p and BG Group gained 10.5p at 656p.
Strength in heavyweight miners returned to provide the main fuel for today's recovery as bargain hunters moved in following the recent sell-off. Citigroup argued that the heavy falls are overdone and urged clients to buy.
Antofagasta was up 102p at 1,991p, Anglo American was up 86p at 1,991p, BHP Billiton was up 42.5p at 1,006p and Xstrata gained 76p at 1,840p.
Corus also gained 12p to 356.5p after yesterday's sharp falls.
Marks & Spencer shares topped the blue chip fallers board, down 40p at 528p, with the High Street giant hit by an a disappointing set of full-year numbers and a lack of a meaningful outlook. The group reported a profit before tax, exceptionals and the impact of asset disposals of £751.4 million, up 35.1% from the previous year and in line with guidance of £745 million - £755 million issued by the company last month. In reaction to this, JP Morgan said the numbers were strong, although this was anticipated by the market and added that the components of the pre-tax profit figure are slightly disappointing.
The group has had a good year, M&S is beginning to regain its confidence but we still have much to do to ensure that we sustain growth in the long term. We need to drive sales, grow market share, improve the performance from its existing stores and continue to buy better. We need to manage stocks tightly and mitigate significant cost pressures on fuel, energy, rent and rates in a competitive trading environment. We are under no illusions about the work necessary to place us firmly on a path to long-term growth and are committed to delivering this 
The CEO Stuart Rose said.
Online gaming company PartyGaming lost 2.5p at 128.5p after news of two of its founders are to step down from the board.
AB Ports shares jumped 15%, up 101p to 771p, after a Goldman Sachs-led consortium increased its bid for the largest UK port operator to 810p per share. AB Ports confirmed this morning it received the non-binding proposal, which trumped a previously rejected offer of 730p.
London Stock Exchange shares lost 20p at 1,170p, amid fears it will get left behind in the current consolidation moves for European bourses, with Deutsche Boerse today confirming details of its offer for Euronext to go head-to-head in a battle with the New York Stock Exchange which launched its merger plans yesterday.
The Portfolio:
Wolfson (WLF) is on the up today after hitting its floor of 400p. The stock is currently trading up 6.99% at 428.50.
