FTSE 100 holds onto gains as BP hit by 'final' $5.2bn oil spill charge

UK blue chips up 0.2%

The FTSE 100 maintained positive ground in morning trading today despite BP falling 2.8% as it revealed it had booked a further $5.2bn charge in Q2 for the 2010 Gulf of Mexico oil spill.

By 11am, the UK's blue-chip index was up by 0.2% to 6,721 points, led by BT Group, which rose by 4.9% to 406.45p after regulator Ofcom said its Openreach business did not need to be split off from the company. Meanwhile, BP shares fell 2.8% to 428p as the firm said the total cost of the Gulf of Mexico oil spill has now hit $61.6bn. It said the latest $5.2bn charge will settle all remaining liabilities arising from the accident, in which 4.9 million barrels were lost over four months. US shale - from boom to bust to boom again? In its latest results, BP posted a $720m underlying pro...