* FTSE 100 up 1 percent
* BG up on discovery, Vodafone gains on Verizon
* Commodity stocks gain as metal, oil rise
By Simon Falush
LONDON, Jan 26 (Reuters) - Strong gains from Vodafone on optimism for the mobile telephone sector and from BG Group after an oil discovery helped propel Britain's top share index higher in early trade on Wednesday.
Strength from miners and other energy stocks, helped as commodities gained on improved confidence on the global economic outlook after a U.S. President Barack Obama proposed cutting corporate tax rates, also lifted blue-chip shares.
By 0902, the FTSE 100 was 56.26 points higher at 5,973.97, after falling 0.4 percent on Tuesday following news fourth-quarter GDP shrank 0.5 percent.
"There is more of a positive bias, the market seems to have shrugged off concerns over GDP yesterday," said Manoj Ladwa, senior trader at ETX Capital.
Mobile phone heavyweight Vodafone added 2.2 percent, supported as U.S. peer Verizon Communications said it saw revenue and earnings rising as much as 8 percent this year.
Vodafone was also boosted as French entertainment and telecom group Vivendi said it had completed the sale of its stake in NBC Universal to GE. This cleared the way for Vivendi to begin talks with Vodafone to acquire its 44 percent stake in French telecom operator SFR.
BG Group added 3.2 percent after the energy group confirmed it had discovered a light oil accumulation in the Carioca area.
Royal Dutch Shell gained 0.7 percent as crude gained ground while the FTSE mining index put on 1 percent as metal prices firmed.
Commodity prices were lifted by improved optimism on the economic outlook in the United States after Obama proposed cutting the corporate tax rate as well as scrapping loopholes which favoured specific industries.
Investors were also waiting U.S. December new home sales data, scheduled for release at 1500 GMT, and the outcome of the latest two-day Federal Reserve Open Market Committee meeting, due after the London close.
The Fed was expected to nod to an improving U.S. economic outlook even as it reaffirms a plan to buy $600 billion in government debt to help speed recovery.
Technical indicators were bearish, according to James Hyerczyk, analyst at Autochartist.
"Based on the 5,519.19 to 6,090.49 main range, the developing break appears to be headed toward a key retracement zone at 5,804.84 to 5,737.43. If this area is tested then it will be up to the trading community to step to support the market."
Ex-dividend factors will take 1.7 points off the FTSE 100 index on Wednesday, with Compass Group and Scottish & Southern Energy both losing their payout attractions. (Editing by Dan Lalor)