The latest London South East Webinar takes place on July 6. Come and hear CEO’s from Orosur Mining, Caledonia Mining, Glantus Holdings and Tekcapital speak. Please register here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 316.85
Bid: 317.05
Ask: 317.15
Change: 1.45 (0.46%)
Spread: 0.10 (0.03%)
Open: 312.60
High: 318.90
Low: 308.85
Yest. Close: 315.40
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

LIVE MARKETS-Bubble exposure? It's not so bad

Tue, 4th May 2021 10:08

* European shares flat

* Mining and travel stocks lift by recovery hopes

* Britain to announce green list of holiday countries

May 4 - Welcome to the home for real-time coverage of
markets brought to you by Reuters reporters. You can share your
thoughts with us at markets.research@thomsonreuters.com

BUBBLE EXPOSURE? IT'S NOT SO BAD (0908 GMT)

The risk of a bubble burst is at the top of investors'
concerns after massive stimulus fuelled an unprecedented equity
rally in addition to supporting the real economy.

But according to JP Morgan analysts, one shouldn’t be too
worried as valuations are not that stretched.

History also tells us that when extreme corrections occur,
sooner or later, prices go back to square one, namely to levels
seen before the bubble burst.

Data from the last 40 years indicate overshooting from
extreme valuations are common in all asset classes, and they can
“endure for an average of 9-12 months but sometimes for many
years’” JP Morgan analysts say in a research note.

But “80% of expensive markets that crash spectacularly
eventually make new all-time highs,” they add.

Then, “only a few markets (U.S. large and small-cap stocks,
Copper) even begin to meet this research note’s simple test of
extreme expensiveness.”

But suppose you feel uncomfortable owning every expensive
assets. In that case, JP Morgan suggests focusing on those “with
a policy backstop that will renew the cycle – developed market
equities and credit -- rather than those which no policymaker
feels obliged to support – crypto.”

(Stefano Rebaudo)

*****

ITALIAN BANKS MERGERS: GAME ON (0837 GMT)

Dealmaking across the fractured Italian banking industry may
heat up again and with Rome looking at ways to further support
M&A, brokers have dusted off their spreadsheets to assess the
impact of potential deals.

According a draft decree seen by Reuters, Italy is
considering extending tax breaks to help tie-ups to mid-2022
while also boosting the size of the incentives.

"If approved, the rule would provide further impetus to the
consolidation process in the sector," says Andrea Lisi at
Italian brokerage Equita.

And Citi is upbeat too.

"We expect further consolidation to come in the Italian
banking market, following the ISP/UBI and CASA/Creval deals,
with more clarity possibly in coming quarters," they say. "Most
banks could be involved either as consolidator or as target".

Among possible combinations, analysts at both houses cite
UniCredit/Monte Paschi and UniCredit-Banco BPM.

In the snapshot, simulated merger scenarios by Citi.

Reprinted with permission of Citi Research. Not to be
reproduced.

(Danilo Masoni)

*****

AIM: AN UNEXPECTED SUCCESS STORY (0822 GMT)

London's junior market has weathered the pandemic storm
quite gracefully, with only seven companies leaving AIM due to
financial stress or insolvency in 2020, while businesses have
become attractive M&A targets.

According to data from UHY Hacker Young Group, the figure is
a record low and an astonishing success compared to 82 during
that left after the global financial crisis in 2009. (See UHY
data in the chart)

"The pandemic year has turned into an unexpected success
story for AIM," Daniel Hutson, Partner at UHY Hacker Young.

This is because, compared with the previous financial
crisis, more AIM companies are in the later stage in their
development and in the position to ask for support from
shareholders during stressful times, UHY says.

Better corporate governance also played a role in keeping
these companies away from trouble, UHY adds.

Another sign that the AIM market managed relatively well
during the pandemic is the fact that M&A deals are staging a
comeback.

In the six months to March 2021, 15 AIM M&A deals were
completed, compared to just seven in the previous six months,
UHY data shows.

Big deals in 2021 included the 650 million pounds
acquisition of Applegreen by a Blackstone-led consortium, and
the 860 million pounds purchase of game developer Codemasters by
Electronic Arts.

"It is also encouraging to see that the M&A deals in recent
months have been growth acquisitions by PE and trade buyers
rather than purchases of distressed assets".

(Joice Alves)

*****

EUROPE SUPPORTED BY RECOVERY BETS, LONDON CATCHES UP

European shares open in positive territory with economy
sensitive sectors leading the way on hopes for recovery, while
London outperforms after an extended weekend.

Investors are betting on a strong global rebound helped by
massive stimulus and ongoing vaccination programmes in developed
countries.

Heavyweight oil majors BP and Royal Dutch Shell
are providing the biggest boost to the FTSE.

The pan European index started the day slightly up
and was last flat, with miners and oil and gas
indexes rising 0.6% and 0.8%, respectively.

Among top performers, travel and leisure sector rose
as it is benefiting from Britain's expected announcement of a
green list for countries that people can travel to on holidays.

(Joice Alves)

*****

DRIVING DOWN THE RECOVERY HIGHWAY (0658 GMT)

With the U.S. economic recovery story firmly entrenched into
the market mindset, Monday's softer-than-expected U.S.
manufacturing report pushed Treasury yields lower and toppled
the dollar from multi-week highs. On the other hand, there were
upbeat earnings, news of cities reopening, and a dovish Federal
Reserve, all of which are keeping the tone relatively positive.

What's more, the data from the Institute of Supply
Management (ISM) showed that rising costs and capacity pressures
undermined output rather than any hit to demand. South Korean
export data and German retail sales figures have broadly
confirmed that trend.

Until U.S. services data and monthly payrolls numbers offer
further guidance later this week, markets are scratching around
in well-worn ranges; the dollar is a touch firmer and U.S. stock
futures are treading water.

Meanwhile, Australia kicked off a busy week for central
banks. It kept policy rates unchanged but upped economic
forecasts. Norway, UK, Turkey and Brazil will also announce
monetary policy decisions this week, with many expecting the
Bank of England to announce a cut to its bond-buying QE.

In corporate news, Italy's Mediaset and its second-largest
investor, Vivendi ended years of legal sparring, agreeing for
the French group to cut its stake in the Italian broadcaster.
Shares in travel and leisure firms such as TUI, Carnival and
EasyJet are up in pre-market on news the EU will ease travel
curbs on vaccinated holidaymakers.

But don't forget the virus. India's infections caseload
surged past 20 million, the second nation after the United
States to pass the milestone. And a sudden spurt in Taiwan's
infections numbers pushed shares there 3% lower.
Key developments that should provide more direction to markets
on Tuesday:

-Corporate news: Verizon is ditching its media businesses
that include iconic brands Yahoo and AOL for $5 billion; German
meal-kit delivery company HelloFresh grew its active customer
base by 74% in Q1; Norway's Telenor has written off the value of
its Myanmar operation.

-UK April final PMI readings

-Bank of France Governor Villeroy speaks

-U.S., Canada March trade data

-Dallas Fed President Robert Kaplan to speak. He caused a
stir on Friday by calling for a conversation about tapering.

-China Caixin PMI final

-US durable goods/factory orders

-US earnings: Thomson Reuters, Pfizer, ConocoPhilips,
Western Union, Herbalife, Prudential

(Saikat Chatterjee)

EUROPEAN BOURSES LOOKING FOR RECOVERY SIGNALS (0538 GMT)

European bourses are seen open little changed mirroring
Asian shares as investors look for signs of recovery as major
economies around the world reopen.

The mildly positive tone in Asia was broadly in line with
that on Wall Street overnight, where upbeat earnings, news of
cities reopening and a dovish Federal Reserve helped offset a
disappointing report on manufacturing activity.

In the corporate news, Italy's Mediaset and its
second-largest investor, Vivendi, on Monday ended years of legal
sparring with an accord under which the French group will
drastically cut its stake in the Italian broadcaster.

(Joice Alves)

****

More News

REUTERS EVENT-Big Oil's move to offshore wind risks inflating seabed prices - Orsted

By Stine JacobsenCOPENHAGEN, June 21 (Reuters) - The world's largest offshore wind developer Orsted is concerned that Big Oil's eagerness to harness wind at sea could push up prices for seabed leases, making the technology less competitive, its ch...

Today 13:00

LONDON MARKET CLOSE: Stocks slide as US Fed still hangs over markets

LONDON MARKET CLOSE: Stocks slide as US Fed still hangs over markets

18 Jun 21 17:04

LONDON MARKET MIDDAY: Sentiment damped as central bank moves mulled

LONDON MARKET MIDDAY: Sentiment damped as central bank moves mulled

18 Jun 21 12:01

UPDATE 1-Lightsource bp to invest $566 mln in Spanish solar projects

(Writes through with BP statement)MADRID, June 18 (Reuters) - Lightsource bp will invest 475 million euros ($566 million) in power projects it is buying in northern Spain, the solar developer half-owned by energy giant BP said on Friday.The deal t...

18 Jun 21 09:51

UPDATE 2-Worst day in over a month for FTSE 100; retail sales data disappoints

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* UK retail sales fall 1.4% in May as consumers dine out* Tesco down as sale growth slowed in first quarter* FTSE 100 down 1.9%, FTSE 250 off...

18 Jun 21 09:21

BP to buy solar projects for up to 500 mln euros in Spain -Expansion

MADRID, June 18 (Reuters) - Energy giant BP is close to buying solar power projects for between 400 million euros and 500 million euros in Spain from conglomerate Grupo Jorge, Expansion newspaper reported on Friday, citing unidentified industry s...

18 Jun 21 07:50

Shell plans to bid in Norway's 1st offshore wind tender

OSLO, June 17 (Reuters) - Oil major Shell teamed up with Norwegian utilities BKK and Lyse to bid in the Nordic country's first offshore wind tender expected next year, the companies said on Thursday.Shell has been active in oil and gas extraction ...

17 Jun 21 16:02

UPDATE 2-Miners drag FTSE 100 from 16-month highs

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Whitbread tops FTSE 100 after signs of demand pick-up* Trainline surges after higher group net ticket sales* FTSE 100 down 0.4%, FTSE 250 o...

17 Jun 21 09:20

UPDATE 2-Consumer staples, energy stocks boost FTSE 100; delayed reopening cap gains

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* UK payrolled employees surge by 197,000 in May* Subprime lender NSF slides on equity raise plans* FTSE 100 up 0.4%, FTSE 250 off 0.5% (Upd...

15 Jun 21 16:52

LONDON MARKET CLOSE: Oil majors drive FTSE; Johnson to extend lockdown

LONDON MARKET CLOSE: Oil majors drive FTSE; Johnson to extend lockdown

14 Jun 21 16:58

UPDATE 2-Energy stocks boost British shares ahead of reopening decision

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Travel-related stocks down on speculations around delay in reopening* Serco jumps on raising 2021 profit outlook* FTSE 100 up 0.2%, FTSE 2...

14 Jun 21 16:48

LONDON MARKET MIDDAY: Stocks rise and US called higher ahead of Fed

LONDON MARKET MIDDAY: Stocks rise and US called higher ahead of Fed

14 Jun 21 12:20

LONDON MARKET OPEN: Travel stocks fall amid UK lockdown easing delay

LONDON MARKET OPEN: Travel stocks fall amid UK lockdown easing delay

14 Jun 21 08:59

BP joins consortium seeking wind power off Norway

OSLO, June 14 (Reuters) - British oil major BP will join Norway's Statkraft and Aker Offshore Wind <AOW-ME.OL> to bid for permits to build offshore wind power projects off Norway, the companies said on Monday.The consortium in which each partner w...

14 Jun 21 08:16

TOP NEWS: BP teams with Aker and Statkraft for offshore wind in Norway

TOP NEWS: BP teams with Aker and Statkraft for offshore wind in Norway

14 Jun 21 08:05

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.