After beating market expectations the oil and gas behemoth BG Group saw its share price head north. The company's underlying second-quarter net income came in a shade ahead of expectations at $1.15bn, up from a restated $918m the year before. Underlying profit before tax saw a sharp incline from $1.50bn to $2.06bn on revenue that grew to $5.12bn from $4.08bn.The group said the improvement reflected higher commodity prices and a 3% increase in exploration and production (E&P) output.In contrast, sector peer BP experienced a drop in its share price after the benefits of increased profits as a result of higher oil prices were offset by lower production as a result of the oil spill in the Gulf of Mexico. The rising price of oil and gas had meant profits of £3.2bn for the 3 month period to the end of June but this paled in comparison to the £10.3bn loss incurred last year. Shares of drugs maker GlaxoSmithKline (GSK) surged 1.3% to 1,381p in midday trading in London. Despite the pharmaceutical giant reporting a 4% decline in quarterly revenue, the company's shares gained momentum after it gave a rosy outlook for 2012 and recorded a 5% rise in sales, excluding the pandemic flu product segment. FTSE 100 - RisersBG Group (BG.) 1,478.00p +3.72%Capita Group (CPI) 719.50p +2.27%Anglo American (AAL) 3,086.00p +1.97%Xstrata (XTA) 1,382.00p +1.73%United Utilities Group (UU.) 608.00p +1.67%Eurasian Natural Resources Corp. (ENRC) 793.00p +1.54%GlaxoSmithKline (GSK) 1,382.50p +1.39%Smiths Group (SMIN) 1,197.00p +1.35%Vodafone Group (VOD) 164.00p +1.23%Old Mutual (OML) 131.30p +1.16%FTSE 100 - FallersGKN (GKN) 229.80p -3.53%Burberry Group (BRBY) 1,553.00p -2.94%BP (BP.) 466.10p -1.96%ARM Holdings (ARM) 604.00p -1.95%Fresnillo (FRES) 1,698.00p -1.79%John Wood Group (WG.) 693.50p -1.42%British Sky Broadcasting Group (BSY) 729.00p -1.35%Hammerson (HMSO) 470.80p -1.32%RSA Insurance Group (RSA) 133.90p -1.25%Capital Shopping Centres Group (CSCG) 381.70p -1.14%NR