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Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 491.30
Bid: 490.50
Ask: 490.60
Change: 2.00 (0.41%)
Spread: 0.10 (0.02%)
Open: 491.00
High: 493.10
Low: 490.30
Prev. Close: 489.30
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FTSE 100 falls as oil stocks drag, pound rises

Tue, 04th Apr 2023 17:27

OKYO Pharma slumps on LSE delisting plans

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Rathbones climbs on Investec's merger deal

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FTSE 100 down 0.5%, FTSE 250 off 0.3%

April 4 (Reuters) - London's FTSE 100 ended lower on Tuesday, a day after hitting a three-week high, bogged down by a stronger pound and weakness in the shares of oil majors.

The internationally focussed FTSE 100 fell 0.5%, snapping a six-day winning streak, as the pound rose 0.7% after touching its highest levels since June.

BP Plc and Shell Plc fell 1.0% and 1.9% respectively, despite rising oil prices, while industrial goods , down 0.8%, also weighed on the FTSE 100.

"One of the worst sectors right now is energy, which was certainly a big winner yesterday. We are seeing a little profit taking there," said Steve Sosnick, chief strategist at Interactive Brokers.

Precious metal miners were a bright spot, up 1.6% as spot gold prices gained on weaker U.S. job openings data.

The domestically oriented FTSE 250 shed 0.3%.

Both FTSE indexes ended the first quarter with gains.

However, a recent spike in oil prices and signs of U.S. economic weakness and uncertainty about further monetary tightening have weighed on sentiment.

Bank of England Chief Economist Huw Pill said the central bank still cannot be sure that it has raised interest rates enough to tame inflation.

Rathbones Group Plc advanced 1.8% as the wealth manager said it had agreed to buy the UK wealth business of Investec Plc in an all-share deal valued at 839 million pounds ($1.04 billion). Shares of Investec climbed 1.6%.

Saga Plc plunged 16.5% after the holiday group noted that its insurance unit — which includes its underwriting arm whose potential sale to Australia's Open was terminated last month — has been battling high claims inflation.

Among other major movers, OKYO Pharma Ltd dropped 14.6% after the bio-pharmaceutical company said it plans to delist from the London Stock Exchange next month, citing tepid trading volumes and low valuations.

"U.S.-listed stocks have a higher valuation and they could probably get better shareholder value there," said Michael Hewson, chief market analyst at CMC Markets. (Reporting by Johann M Cherian and Shristi Achar A in Bengaluru; Editing by Subhranshu Sahu, Shailesh Kuber and Richard Chang)

More News
18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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18 Apr 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

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18 Apr 2024 09:04

IN BRIEF: BP trims executive team in operational restructuring

BP PLC - London-based oil and gas major - Announces organisational restructuring. Intends to keep its three businesses - production & operations, gas & low carbon energy and customers & products - enabled by trading & shipping. Plans to integrate the current regions, corporates & solutions organisation into the businesses and functions. BP will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. BP explains these changes will "reduce duplication and reporting line complexity".

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18 Apr 2024 08:11

BP cuts size of executive team, shakes up structure

(Sharecast News) - BP has trimmed its executive team as part of a shake-up of its organisational structure, it was confirmed on Thursday.

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17 Apr 2024 18:58

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, that called on the energy company to set tighter climate targets.

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17 Apr 2024 17:36

Sustainable Finance Newsletter - Republican AGs look to limit climate groups

April 17 (Reuters) - In prior newsletters I have reported on the ongoing review by U.S. energy regulators of top asset managers' big utility holdings.

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17 Apr 2024 13:55

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

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17 Apr 2024 10:38

Carbon Done Right advances Sierra Leone rewilding project

(Alliance News) - Carbon Done Right Developments Inc on Wednesday said it has received the fourth disbursement of financing for its reforestation project in West Africa.

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15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

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15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

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15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

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15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

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13 Apr 2024 16:52

Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

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12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

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12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

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