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LONDON (Alliance News) - Stocks in London were higher at midday on Friday with the FTSE 100 driven by well-received earnings from Reckitt Benckiser, BT, and Pearson, as well as acquisition activity from BP. The FTSE 100 index was up 0.5%, or 37.68 points, at 7,700.85. The FTSE 250 was up 0.2%, or 55.36 points, at 20,819.15, and the AIM All-Share was up 0.2%, or 1.69 points, at 1,101.23.The Cboe UK 100 was up 0.5% at 13,058.42, the Cboe UK 250 was up 0.3% at 18,928.46, and the Cboe UK Small Companies was up 0.1% at 12,414.19.Investor attention will be on the Commerce Department's preliminary report on US GDP in the second quarter at 1330 BST. On an annual basis, economists forecast GDP to come in at 4.1% compared to a 2.0% in the first quarter. "The economy is expected to have grown 4.1% on an annualised basis, which will naturally be championed by Trump as being rewards for his hard work. It will be interesting to see how markets react, should the economy outperform expectations, with the Federal Reserve already on course to raise rates twice more this year," said Oanda Senior Market Analyst Craig Erlam.On the London Stock Exchange, Reckitt Benckiser was the best blue chip performer at midday, up 7.8%, after the household goods maker raised its revenue targets for the full year as it reported a surge in top line numbers buoyed by its acquisition of baby formula maker Mead Johnson Nutrition. For the half year ending June 30, pretax profit grew to GBP1.11 billion from GBP1.02 billion a year before, as net revenue rose 23% to GBP6.14 billion from GBP5.02 billion. As such, Reckitt raised its annual net revenue growth expectations to between 14% to 15%, higher than its previous target of 13% to 14%. Moreover, full year like-for-like sales growth is also expected to come in at the higher end of the company's 2% to 3% range.BT was up 3.8% after the telecommunications company reiterated its annual earnings expectations, as it reported a sharp rise in first quarter pretax profit due absence of large expenses. For the three months to June-end, BT reported pretax profit of GBP704 million, up from GBP418 million in the year ago period, on revenue of GBP5.72 billion from GBP5.84 billion. Adjusted pretax profit rose 3% to GBP816 million.BT also said its mobile phone operating unit, EE, will launch the UK's first live 5G trail network in east London in October and the transformation of the group's operating model remains on track.Pearson was up 3.8% after the education publisher said it still expects underlying growth in the year despite its first half revenues dropping. In the six months ended June, Pearson posted a 9% drop in revenue to GBP1.87 billion from GBP2.05 billion the year before. Currency movements decreased revenues by GBP128 million. In underlying terms, however, Pearson said its revenues grew 2%. This growth was driven by improved performances in its US Higher Education Courseware, Online Program Management, Connections Academy, Professional Certification and Pearson Test of English Academic divisions. Pearson's first half pretax profit soared to GBP202 million from a GBP10 million loss last year.BHP Billiton was up 2.2% after the Anglo-Australian miner said it has entered into agreements to sell its entire interest in its onshore US assets for USD10.80 billion - with oil major BP buying a large chunk - eyeing a distribution to shareholders with the proceeds. The assets comprise BHP's Eagle Ford, Haynesville, Permian and Fayetteville oil and gas interests. BP will pay USD10.50 billion for this in cash, one half due at completion with the deferred consideration payable in six equal instalments over a six-month period, commencing one month after completion. BP shares were up 0.1%. At the other end of the large cap index, Rightmove was the worst performer down 2.8% after the property portal said its interim revenue increased 9.7% against a tough UK property market backdrop. For the six months to June 30, the company behind the rightmove.co.uk property portal posted revenue up to GBP131.1 million from GBP119.5 million reported in the same period a year ago. Pretax profit for the period widened to GBP98.1 million compared to GBP87.5 million posted a year ago. The stock was cut to Reduce from Hold by Peel Hunt. In the FTSE 250, Equiniti Group was the best performer up 8.5% after the technology outsourcer said it was "pleased with performance in the first half", and expects full-year earnings to be towards the top end of market expectations which see earnings before interest, tax, depreciation, and amortisation between GBP116 million and GBP122.9 million. For the half-year to June-end, revenue jumped 30% to GBP254.0 million from GBP194.8 million. Adjusted Ebitda reached GBP55.0 million from GBP41.8 million a year ago. The company lifted its interim dividend by 12% to 1.83 pence per share from 1.64p paid a year ago. At the other end of the midcap index, Inchcape was the worst performer down 5.8% after HSBC downgraded the car dealer to Hold from Buy. The pound was lower against the dollar quoted at USD1.3087 at midday compared to USD1.3114 late Thursday, amid fears of a negative outcome to the UK's Brexit negotiations. UK Prime Minister Theresa May was been warned she will struggle to find "loopholes" in the EU's approach to Brexit talks.May will discuss her plan for leaving the EU with Austrian Chancellor Sebastian Kurz and Czech counterpart Andrej Babis as she seeks to build alliances as the clock ticks down to the March 2019 Brexit date.Both the Austrian and Czech governments have been critical of aspects of EU policy, particularly on migration, and May will hope she can use internal divisions within the bloc to push for a more flexible approach from Brussels to the Brexit negotiations.But Czech state secretary for European affairs Ales Chmelar insisted there was unity behind Michel Barnier's approach to the talks.EU chief negotiator Barnier dealt the UK prime minister a serious blow by rejecting a key plank of her Brexit strategy on Thursday."It is becoming increasingly clear the EU see it as a hard Brexit, or no Brexit at all, with their insistence the UK cannot pick and choose meaning the ability to obtain a 'softer' Brexit would also entail free movement of labour and adhering to EU regulations. It comes as no surprise the pound is suffering given the fact Brexit seems to have barely progressed since the UK voted to leave the EU over two years ago," said IG market analyst Joshua Mahony.In Paris the CAC 40 was up 0.3%, while the DAX 30 in Frankfurt was up 0.4%. The euro was flat against the dollar at midday quoted at USD1.1652 from USD1.1651 at the European equities close Thursday.Eurozone economic growth is expected to moderate in the near-term, according to survey of professional forecasters published by the European Central Bank.Real gross domestic product is forecast to grow 2.2% this year instead of 2.4% estimated a quarter ago. Likewise, the outlook for 2019 was revised down to 1.9% from 2%.The growth estimate for 2020 was retained at 1.6%. Average longer-term expectations for real GDP growth remained unchanged at 1.6%.Inflation is expected to average 1.7% each in 2018, 2019 and 2020. This represented upward revisions from 1.5% in 2018 and 1.6% for 2019, but no change to the expectation for 2020.Stocks in New York were set for a marginally higher open as earnings season across the pond continues apace. Social media company Twitter, drugmaker Merck & Co, and oil companies Exxon Mobil and Chevron will report earnings before the market open. The Nasdaq Composite was called up 0.1% following a Facebook-led 1.0% decline on Thursday. DJIA and the S&P 500 index were set to open flat.