The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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: 520.40
Bid: 521.20
Ask: 521.40
Change: -2.90 (-0.55%)
Spread: 0.20 (0.038%)
Open: 526.00
High: 529.30
Low: 520.40
Prev. Close: 523.30
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON BRIEFING: Arrests after anti-lockdown protests across China

Mon, 28th Nov 2022 07:49

(Alliance News) - Stocks in London are set to open lower on Monday, amid risk-off sentiment globally, following anti-lockdown protests across several major cities in China.

Sunday saw people take to the streets in several major cities across China to call for an end to lockdowns and greater political freedoms, in a wave of nationwide protests not seen since pro-democracy rallies in 1989 were crushed.

A deadly fire last week in Urumqi, the capital of northwest China's Xinjiang region, has become a catalyst for public anger, with many blaming Covid lockdowns for hampering rescue efforts.

But they have also featured prominent calls for greater political freedoms – with some even demanding the resignation of China's President Xi Jinping, recently re-appointed to an unprecedented third term as the country's leader.

In the UK, homes have been selling for 3% below their asking price typically in recent weeks, according to Zoopla.

For much of 2021 and the first half of 2022, the average discount that homes were selling for was 0%, it said, meaning that properties were typically achieving their asking price.

The property website said it expects discounts to increase further in 2023.

Here is what you need to know ahead of the London market open:

----------

MARKETS

----------

FTSE 100: called down 31.57 points, or 0.4%, at 7,455.10

----------

Hang Seng: down 1.3% at 17,339.68

Nikkei 225: closed down 0.4% at 28,162.83

S&P/ASX 200: closed down 0.4% at 7,229.10

----------

DJIA: closed up 152.97 points, 0.5%, at 34,347.03

S&P 500: closed down 1.14 points at 4,026.12

Nasdaq Composite: closed down 58.96 points, 0.5%, at 11,226.36

----------

EUR: lower at USD1.0379 (USD1.0395)

GBP: lower at USD1.2071 (USD1.2090)

USD: lower at JPY138.09 (JPY139.22)

Gold: higher at USD1,751.22 per ounce (USD1,750.96)

Oil (Brent): lower at USD81.44 a barrel (USD85.21)

(changes since previous London equities close)

----------

ECONOMICS

----------

Monday's key economic events still to come:

10:00 CET EU monetary developments 

11:00 GMT Ireland retail sales  

11:00 GMT UK CBI distributive trades survey

----------

China's security forces detained people at the scene of a rare demonstration as authorities worked to extinguish protests that flared across the country calling for political freedoms and an end to Covid lockdowns. AFP witnessed police leading two people away from a site in Shanghai where demonstrators gathered over the weekend, while China's censors worked to scrub signs of the social media-driven rallies. The BBC said one of its journalists had been arrested and beaten by police while covering the Shanghai protests. In the capital, at least 400 people gathered on the banks of a river for several hours, with some shouting: "We are all Xinjiang people! Go Chinese people!"

----------

A GBP1 billion scheme to make middle-income homes in the UK more energy efficient is being launched along with a public information campaign advising people how to cut power usage. UK Energy Secretary Grant Shapps confirmed the new Eco+ scheme to extend support for insulating homes as he tries to get households to reduce energy consumption. Labour criticised it as a "reheated announcement with no new resources" that comes "far too little too late". Hundreds of thousands of UK households could receive loft and cavity wall insulation under the scheme running for three years from spring. It is predominantly being targeted at households that do not currently get support to upgrade homes, though a fifth of the funding will be targeted at the most vulnerable. Some GBP18 million will also be spent on a public information campaign giving advice about turning down boiler temperatures and radiators to save energy.

----------

BROKER RATING CHANGES

----------

UBS cuts Persimmon to 'sell' ('neutral') - price target 1,230 (1,290) pence

----------

UBS cuts Smith & Nephew to 'sell' ('neutral') - price target 970 (1,116) pence

----------

Redburn cuts abrdn to 'sell' ('neutral')

----------

COMPANIES - FTSE 100

----------

Rio Tinto has agreed to create the Juukan Gorge Legacy Foundation after signing a remedy agreement regarding the destruction of two ancient rock shelters at Juukan Gorge in Western Australia in 2020. Under the agreement, the miner will provide financial support to the foundation to progress cultural and social projects including a new keeping place for storage of important cultural materials.

----------

BP won two new exploration blocks in the Mediterranean Sea, offshore Egypt. The blocks were awarded to BP by Egyptian Natural Gas Holding Co. The areas are called the Northwest Abu Qir offshore area and the Bellatrix-Seti East block. BP holds a 83% interest in the first area, and a 50% interest in the second area.

----------

COMPANIES - FTSE 250

----------

JLEN Environmental Assets reported its net asset value at September 30 rose to 126.3 pence per share from 115.3p per share at March 31. This came as the environment infrastructure fund's portfolio value rose to GBP890.2 million from GP795.4 million in the same time period. JLEN also declared a second interim dividend of 1.70 pence, bringing the total payout for the six months ended September 30 to 3.57p. Chair Ed Warner said: "JLEN has delivered strong returns during a period of extraordinary dislocation in the global economy. During the period the company expanded its portfolio by making four acquisitions and generating a strong pipeline of near-term investment opportunities for further growth."

----------

Inchcape Chief Financial Officer Gijsbert de Zoeten is standing down with immediate effect. The auto distribution, retail and services company explained that this was a voluntary resignation following an incident in which "through a lapse in judgement, [De Zoeten] displayed personal behaviour falling short of the high standards expected of the leadership." Adian Lewis, Inchcapes's financial controller, has been appointing as acting CFO. The process to find a permanent successor has begun.

----------

OTHER COMPANIES

----------

Cerillion reported record full-year revenue and profit thanks to new customer implementations and strong demand from existing customers. In the financial year that ended September 30, the billing and customer relations management software firm reported pretax profit of GBP10.9 million, up from GBP7.4 million the previous year. This came as revenue surged to GBP32.7 million from GBP26.1 million. Cerillion proposed a final dividend of 6.5 pence per share, up from 5.0p a year prior. Chief Executive Louis Hall said the firm has started its new financial year with a "very high degree of visibility" over its earnings thanks to its "very strong" back-order book and "higher level of recurring income". Hall said that the market backdrop also remains "extremely favourable."

----------

Adriatic Metals announced that the Vares project in Bosnia & Herzegovina is now half-completed. As a result, the project remains on schedule, with first concentrate production planned for the third quarter of 2023. The exploration and development company added that the final cost estimate for the project remains unchanged at USD173 million.

----------

By Heather Rydings; heatherrydings@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
30 Apr 2024 14:38

UK earnings, trading statements calendar - next 7 days

Wednesday 1 May 
Anexo Group PLCFull Year Results
Cambridge Cognition Holdings PLCFull Year Results
Computacenter PLCTrading Statement
Georgia Capital PLCQ1 Results
GSK PLCQ1 Results
Haleon PLCTrading Statement
HSS Hire Group PLCFull Year Results
Intelligent Ultrasound Group PLCFull Year Results
Maintel Holdings PLCFull Year Results
Next PLCTrading Statement
Smith & Nephew PLCTrading Statement
Thursday 2 May 
Endeavour Mining PLCQ1 Results
First Tin PLCTrading Statement
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
TI Fluid Systems PLCQ1 Results
Friday 3 May 
InterContinental Hotels Group PLCTrading Statement
Mondi PLCTrading Statement
Trainline PLCFull Year Results
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Arecor Therapeutics PLCFull Year Results
BP PLCQ1 Results
Ebiquity PLCFull Year Results
IWG PLCTrading Statement
Kosmos Energy LtdQ1 Results
MaxCyte IncQ1 Results
Trident Royalties PLCTrading Statement
Vaalco Energy IncQ1 Results
  
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.

Read more
29 Apr 2024 14:21

Norway's wealth fund falls short on climate ambitions, NGO says

OSLO, April 29 (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, is falling short on its climate ambitions by failing to back multiple shareholder proposals pushing oil companies to cut their greenhouse gas emissions, a non-governmental organization said in a report said on Monday.

Read more
24 Apr 2024 19:30

Trans Mountain oil shippers raise concerns about risk of delay to full service

April 23 (Reuters) - Some shippers on Canada's Trans Mountain expansion project are raising concerns that the long-delayed oil pipeline will not be fully in service by its projected start date of May 1, according to a letter to the Canada Energy Regulator on Tuesday.

Read more
24 Apr 2024 13:24

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

LONDON, April 24 (Reuters) - Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report.

Read more
24 Apr 2024 09:58

Aker BP Q1 beats forecast as costs fall, Tyrving to start sooner

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted higher-than-expected net profit for the first quarter as costs fell, and said its Tyrving field development could start production sooner than previously planned.

Read more
24 Apr 2024 05:38

Aker BP Q1 beats forecast on record output, lower cost

OSLO, April 24 (Reuters) - Norwegian independent oil company Aker BP on Wednesday posted a higher-than-expected net profit for the first quarter as production hit a record while costs fell.

Read more
18 Apr 2024 14:45

BP's gas and renewables boss steps down, as CEO shrinks leadership

LONDON, April 18 (Reuters) - BP said on Thursday its head of natural gas and low carbon energy Anja-Isabel Dotzenrath will step down after just over two years, while CEO Murray Auchincloss announced plans to simplify its management structure.

Read more
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.

Read more
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.

Read more
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".

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more
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.

Read more

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.