BP Share News (BP.)

Shire was leading the defensive stocks after investors exercised caution as budget uncertainty in the US continues to weigh on sentiment. British Gas owner Centrica rose after partner EDF Energy announced that it has extended the life of two UK power stations by seven years. Tesco was on investors' shopping lists this afternoon ahead of its trading update tomorrow, lifting the food and drug retail sector higher. The supermarket titan is to update the market on third-quarter trading on Wednesday morning. Shares were making gains after Jefferies said that the grocer is "gaining traction ahead of Christmas". Meanwhile, Tullow Oil fell after it admitted commercial hydrocarbons have not been found at the Zaedyus-2 appraisal well in offshore French Guiana after the company completed drilling. However, the group is confident the French Guiana block remains "highly prospective". The stock was joined by Randgold Resources and Fresnillo, as gold, silver and platinum prices all fell. Just weeks after it published its third quarter results, BP has told investors they can expect more than 50 per cent growth in operating cash flow by 2014 at 100 dollars per barrel. In an investor presentation held on Monday, the group unveiled details of expected production and capital expenditure planned for the coming years. Stuart Joyner, an analyst at Investec, said: "The new $24-$27bn capex range is in line with our own thinking, but the duration is longer and is well above consensus. BP's opportunity set is decent post a quiet reboot. That said, we see a natural disconnect for the shares between the pain of extra spending in the near term against eventual, but unspecified, growth at some point in the future."International Airlines Group (IAG), the FTSE 100 company which owns British Airways, has warned that it has entered talks with unions to discuss plans to cut jobs within the airline's cabin crew based at Heathrow airport. Morrisons fell after Espirito Santo cut its target price from 265p to 230p and downgraded the stock to sell. FTSE 100 - RisersShire Plc (SHP) 1,860.00p +2.71%Admiral Group (ADM) 1,148.00p +1.50%Aviva (AV.) 355.50p +1.34%Centrica (CNA) 332.50p +1.22%Tesco (TSCO) 326.10p +1.13%Capital Shopping Centres Group (CSCG) 347.40p +1.05%RSA Insurance Group (RSA) 120.50p +1.01%British American Tobacco (BATS) 3,316.50p +0.96%International Consolidated Airlines Group SA (CDI) (IAG) 172.80p +0.88%Royal Bank of Scotland Group (RBS) 295.00p +0.82%FTSE 100 - FallersTullow Oil (TLW) 1,282.00p -6.49%Carnival (CCL) 2,453.00p -2.74%Randgold Resources Ltd. (RRS) 6,525.00p -2.10%Fresnillo (FRES) 1,954.00p -1.76%BP (BP.) 423.40p -1.57%Johnson Matthey (JMAT) 2,360.00p -1.54%Polymetal International (POLY) 1,047.00p -1.32%Tate & Lyle (TATE) 761.00p -1.17%Vodafone Group (VOD) 159.15p -1.09%Croda International (CRDA) 2,339.00p -1.02%