Energy companies led US stocks to modest gains on Wednesday as the market recouped some of its hefty losses from the day before.

Stevie Wonder is to perform at a New Orleans concert to mark one year since Hurricane Katrina devastated the Gulf coast of the US.

The FTSE 100 Index headed back towards the 5400 mark today as oil and drugs stocks countered losses elsewhere on the market.

A new storm bearing down on the Gulf coast of the United States revived jitters over winter fuel supplies and pushed oil prices sharply higher today.