BT shares were given a boost today after the telecoms company reported second quarter earnings at the top end of City expectations.
The 2% improvement to £1.44 billion was helped by cost cutting as BT battles to restore profitability at its global IT services division.
BT shares, which hit a record low earlier this year, rose 4% or 5.3p to 147.3p, while the wider London market also made progress in the first hour of trading.
The FTSE 100 Index climbed 10.2 points to 5276.9, having briefly touched the 5300 mark during positive trading yesterday morning. Today’s progress came despite a lacklustre session in Asia, with the Hang Seng down by 1% after HSBC gave back some of its gains from the previous session.
Outside the top flight, building supplies firm Galiform jumped 9% - up 7.4p to 89p - after it reported a "satisfactory performance" and said sales at its Howden Joinery UK depots were over 3% higher than in 2008.
It was joined on the FTSE 250 Index risers board by Trinity Mirror, which lifted 7.9p to 176.6p after it said group sales were down 12% but reported a slowing in the decline seen in advertising revenues.