Afternoon markets: BT's return to profit boosts FTSE

The FTSE 100 rose 28.9 points to 5412.1 in midday trading.

BT rose 11% to 133.90p after reporting a return to profits for the year to 31 March, and announcing investment in new broadband technology. Sainsbury's climbed 11.90 points to 337.8p after reporting a sharp rise in profits and sales during the first three months of 2010, while Thomas Cook gained 4p to 236.1p after reporting its losses had been cut. Cobham and BAE Systems topped the losers, down 2.30% to 246.50p and 1.56% to 593.50p respectively. In the US stocks opened lower, with the Dow Jones Industrial Average down 38.84 points (0.36%) to 10,858.07 points, while the Nasdaq index...