FTSE LIVE: Footsie makes a minor gain in session dominated by company earnings; oil hits  $55.55 a barrel 

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08:30: The Footsie was up marginally ahead of another busy session of company earnings and updates.

In opening deals the FTSE 100 index gained just 2 points at 7,191.1, having finished flat yesterday.

Overnight Asia markets were mixed, with the Shanghai Composite in China making gains while the Nikkei 225 fell back.

Boost: This morning oil prices are on the mend after oversupply concerns prompted a dip in recent sessions

The week so far has been dominated by oil price falls after an increase in US crude inventories and a slump in Chinese demand implied that global markets remain oversupplied despite OPEC-led efforts to cut output.

But this morning oil prices are on the mend after oversupply concerns prompted a dip in recent sessions.

Brent crude is up 0.8 per cent at $55.55 a barrel after hitting a three week low of $54.44.

West Texas Intermediate, the US marker, has added 0.8 per cent to $52.76 per barrel.

Elsewhere copper is up 0.2 per cent to $5,879 a tonne , hovering near a two-month high. 

Mike van Dulken, at Accendo Markets, said: 'Crude Oil prices have continued their recovery from overnight lows.

'Despite a larger than expected build in crude inventories, a drawdown in gasoline stocks was enough to inspire the bulls. 

'Brent is back above $55 per barrel needing to overcome $55.40, while US crude recovers to trade above $52.50, needing the $53 mark to give way for the rally from lows to continue.' 

COMPANY NEWS:

ASHMORE - The fund manager posted an above-forecast 32 per cent rise in first-half core profit to £89.7million pounds following strong investment returns in emerging markets.

THOMAS COOK - The tour operator said that summer bookings were ahead of last year, after it responded to the security turmoil of 2016 by expanding its presence in Greece, Portugal and Croatia.

HENDERSON GROUP - The investment manager posted a 10 per cent rise in total assets under management to £101billion in 2016, after market gains more than offset demand from retail clients to pull money from its funds.

SMITH & NEPHEW - Europe's biggest artificial hip and knee maker reported a 7 per cent drop in full-year trading profit as tough market conditions in China and the Gulf States kept growth in check.

TATE & LYLE - The British food ingredients maker, raised its expectations for the full financial year on Thursday, citing strong performance in its third quarter.     

DFS - The furniture retailer DFS cranked out a 7 per cent rise in gross sales in the six months to the end of January, but it's still sounding tentative.

In a trading update on Thursday, the company once again said that 'adverse foreign exchange movements' were hurting margins, though it is trying to soften the blow from the plunge in the pound by renegotiating contracts with suppliers.

DATA: 

US jobless claims at 1.30pm