Wall Street optimism and media sector lead FTSE 100 higher

A good day's trade on Wall Street on Monday prompted the FTSE 100 to advance 37 points to 5138 by mid morning trade on Tuesday. The Dow Jones is at its highest close in seven weeks. Arm Holdings led the FTSE 100 risers as it posted a gain of 16p to 290p. Arm's peers in the US were snapped up yesterday as investors decided to bargain hunt. It has been another good day for media stocks in the UK. Granada was up 6p to 115p and Cable & Wireless improved 12p to 229p. Granada continues to benefit from comments made by Goldman Sachs yesterday who think the 25% plunge in the group's s...