BP Leads the Way in FTSE Rally

BP sees increase in early day trading.

BP sees increase in early day trading.

As London equities continue to rise today, BP makes further gains as it seeks to end the oil spill in the Gulf of Mexico.

BP shares rose 3.5 per cent to 412.7p, as the embattled oil group attempts to seal the leaking oil with a new relief well.  Favor towards the shares was also helped by Financial Times, reporting that funds spent on plugging the leak, the overall cleanup and compensation for all affected by it could be tax-deductible.

Morning trading had the FTSE 100 at 5,240.12 with an increase of 73.10.  Lloyds GRP led in volume, followed by BP, Royal Bank Scotland, Vodafone Group and Barclays, respectively.

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