Morning markets: BP drives the FTSE upwards

The FTSE 100 opened at 5,132 today and climbed 0.23% higher in early trading, bolstered by beleaguered oil major BP.

BP shares were up 3.97% this morning despite reports in the national press that US government scientists have doubled their estimate of the size of the Gulf of Mexico oil spill. The group's shares closed 6% down in late trading yesterday. Banks also supported the FTSE, with Barclays up 1.69% and Lloyds up 0.57%. Among the largest gainers were Amlin, Catlin Group, Resolution, and Wood Group, while laggards included Antofagasta, Co-operative Bank, ARM and Rio Tinto. Meanwhile European markets rose this morning, with the French CAC-40 climbing 0.7% and the German DAX up 0.4%. Yes...