BP bid news leads FTSE higher

BP led gains following weekend reports the Obama administration told ExxonMobil it would not prevent a takeover bid for its troubled British rival. BP's shares rose 5.29% to 384.1p. Early morning gainers also included Cobham, up 2.14% to 233.4p, while Intertek Group advanced 0.96% to £15.85. Meanwhile, Man Group was the biggest faller, down 1% to 217.5p. Other losers include Inmarsat, dropping 0.75% to 729.5p, while Sage Group dipped 0.72% to 232.9p. On Wall Street, the Dow Jones index was up 0.58% or 59.04 points to 10,198.03 ahead of US earnings season this week. Companies r...