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The FTSE 100 was up 0.8% to 7,358.49 by midday, recovering some of the ground lost in Monday's big sell-off.
All eyes will be on the US when trading resumes to see if there will be a repeat of the extraordinary volatility seen overnight.
Shares in Royal Mail were among the best performers, gaining 3.6% to 452p after the firm announced further plans to streamline the business, reported a sharp increase in parcel volumes and revenues for the third quarter to December as well as a solid increase in turnover at its GLS logistics business.
Rio Tinto climbed 0.9% to £53.12 after it and partners approved the commencement of underground operations at the giant Oyu Tolgoi copper project in Mongolia after writing off a $2.4 million loan to the government there.
The capital forecast for the project was now $6.93 billion, including $175 million of known Covid-19 impacts to the end of 2021, with a re-forecast due in the second half of 2022, the mining giant said.
Pub owner Marston's rose 1.2% to 79.05p even on announcing that its sales had been hurt by the fast-spreading Omicron coronavirus variant.
Like-for-like sales for the 16-week period to 12 January were down 3.9% compared to the same period in the 2019 financial year, the Marston's said, though it was confident of a bounce back as infection rates fall.
Automotive fluid system maker TI Fluid Systems firmed 1.0% to 243.5p as it guided for a rise in annual revenue of about 5% despite encountering supply chain challenges.
TI Fluid Systems also announced that chairman Manfred Wennemer would stand down following its annual general meeting in May and be succeeded by senior director Tim Cobbold.
Recruitment and training company Staffline jumped 12% to 62p, having upgraded its profit guidance amid a 1.6% rise in annual sales and firmer margins, achieved amid a pandemic-led labor squeeze.
Underlying operating profit for the year through December was expected to more than double to £10.0 million, up from £4.8 million year-on-year, and be 11% ahead of market expectations, Staffline said.
Healthcare company EKF Diagnostics added 2.2% to 68.5p on guiding for full-year performance above already upgraded market expectations. For the year ended 31 December, core business revenues grew over 13% compared with the previous financial year, EKF said.
Pharmaceutical services company Ergomed rallied 7.6% to £11.40 after it said it expected core earnings to be ahead of market expectations, driven by 'strong' US growth following a boost from acquisitions.
Diagnostics group Novacyt dropped 6.5% to 223.4p as it forecast a steep drop in annual earnings after sales slumped amid an ongoing dispute over Covid-19 tests with the UK government.
Novacyt's earnings before interest, tax, depreciation and amortisation before exceptional items were expected be above £36.0 million, down from £176.1 million year-on-year.
Digital learning and talent management company Learning Technologies gained 4.7% 155.3p after it said performance was ahead of expectations for the full-year.