(Updates)
** BP down 7.7 pct, bottom of the FTSE 100 and set for biggest single-day fall since June 2010
** Co reports FY loss of $6.5 bln, worst in at least 20 yrs;Q4 underlying replacement cost profit of $196 mln vs analysts'expectations of $730 mln
** Co also says it will cut 3,000 jobs in its downstreamsector
** Stock biggest drag on Stoxx 600 amid anotherslump in oil cos, with co having lost about $4.7 bln in marketcap on Tues
** Shares of European oil and oilfield services cos fall 2-7pct as fears of rising supply weigh on markets, denting hopes onoutput cut; Stoxx 600 Oil and Gas Index down 3.3 pct
** BP still outperforming Stoxx 600 since Jan. 1 (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)