BP discovery and Virgin flotation talk lifts FTSE

The FTSE 100 index is up 16.7 points or 0.4% to 4374 within the first hour of trading in London, led by MMO2 – the mobile operator – which was up 2p or 2% to 101.5p on the back of news about a £1.3bn Virgin mobile flotation. BP also announced this morning it has uncovered another oil field of the cost of Angola, boosting its share value 5.75p or 1.3% to 441.25p and potential reserves. In Asia, the Taiwanese TWSE index has had its biggest gain in 18 months after its President Chen Shui-bian agreed to have a recount over the disputed election vote. The TWSE closed up 5.6% to 6474.11,...