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Share Price Information for BP (BP.)

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Share Price: 503.70
Bid: 503.80
Ask: 503.90
Change: -6.70 (-1.31%)
Spread: 0.10 (0.02%)
Open: 506.40
High: 515.30
Low: 499.60
Prev. Close: 510.40
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LONDON MARKET CLOSE: Disappointing China Data Sees Miners Hinder FTSE

Tue, 30th Apr 2019 16:53

LONDON (Alliance News) - Weak manufacturing data from China overnight hit London-listed miners on Tuesday, causing the FTSE 100 to tumble. The FTSE 100 index closed down 22.44 points, or 0.3%, at 7,418.22. The FTSE 250 ended down 86.39 points, or 0.4%, at 19,824.81, and the AIM All-Share closed down 1.57 points, or 0.2%, at 968.90.The Cboe UK 100 ended down 0.4% at 12,579.12, the Cboe UK 250 closed down 0.4% at 17,757.45, while the Cboe Small Companies ended up 0.4% at 11,702.85."Data of a mixed nature has been pouring in for investors to digest," said Fiona Cincotta at City Index. "Disappointing figures from Google and Samsung and weaker than forecast Chinese manufacturing PMI data overnight have cast a shadow over the markets on Tuesday. "Released overnight, data from IHS Markit showed manufacturing output in China slowed in April. The headline seasonally adjusted Caixin Purchasing Managers' Index decreased to 50.2 in April from 50.8 in March.The data saw blue-chip miners end Tuesday's session lower, with Glencore tumbling 2.6%, Antofagasta down 2.5% and Anglo American down 1.6%. Glencore on Tuesday also cut its copper and nickel output guidance for 2019. The worst performer in the FTSE 100, however, was hospitality firm Whitbread, slumping 6.2%. Whitbread's pretax profit for the 12 months ended February 28 was GBP260 million, down 39% year-on-year, though the figure climbed 1.2% on an underlying basis to GBP438 million. The 39% fall was driven by GBP178 million of extra costs, including GBP108 million related to the sale of Costa Coffee.Whitbread sold off coffee chain Costa last summer for an enterprise value of GBP3.90 billion, leaving it with the Premier Inn hotel chain as well as the Brewers Fayre and Beefeater restaurants.Chief Executive Alison Brittain said softness experienced in the fourth quarter has continued into March and April, but cautioned it is too early to say how this will unfold moving forward.Standard Chartered was the stand-out performer in the index, rising 4.6% as the emerging markets-focused lender said it would return USD1 billion to shareholders. For the three months ended March, pretax profit rose 4.2% to USD1.24 billion from USD1.19 billion the year prior. This was despite operating income dipping 1.6% to USD3.81 billion from USD3.87 billion the year before.Standard Chartered made the move to buy back up to USD1.00 billion worth of shares after the resolution of legacy issues - having agreed earlier in April to pay USD1.1 billion in penalties to regulatory authorities in the US and UK relating to historical sanctions compliance and financial crime controls.BP was also greeted by a warm reception to its first-quarter results, gaining 1.2%.Replacement cost profit, BP's preferred metric, fell 12% to USD2.10 billion from USD2.39 billion the same period the year before and USD2.72 billion the previous quarter. Production during the quarter averaged 3.8 million barrels a day of oil equivalent, rising 2.4% year-on-year.BP increased its first-quarter dividend by 2.5% on the year before, paying out 10.25 US cents to shareholders.In the FTSE 250, Sirius Minerals slumped 20% to 17.42 pence as it revealed a major new financing package worth USD3.8 billion for the development of its Woodsmith mine in Yorkshire.The financing represents part two of the financing plan for the polyhalite mine, which will supply fertiliser once up and running, and is made up of four parts.The first is a firm placing, a placing, and open offer worth USD400 million, with shares to be placed at between 15p and 18p per share, launching immediately.Pub operator Greene King dipped 7.5% as it said it expects annual profit to edge just slightly higher than the year before. Greene King expects profit before tax and exceptional items for its recently-ended financial year to be in the range of GBP244 million and GBP247 million. In the year before, adjusted pretax profit was GBP243.0 million."Given the weather was hampering efforts last year, it's unfortunate trading hasn't been spectacular while the elements are in its favour," said Sophie Lund-Yates, analyst at Hargreaves Lansdown."Investors are making sure it's known that good isn't necessarily going to be good enough, Greene King will need to follow up this set of results with a string of more positive numbers if we're to believe it's out of the woods," Lund-Yates added.Over in New York, stocks were lower at the London equities close, with the Dow Jones down 0.5%, the S&P 500 index down 0.6%, and the Nasdaq Composite tumbling 1.3%.Causing the Nasdaq to oast more severe declines was a 8.5% drop for Google parent Alphabet after a disappointing set of quarterly results which were released late Monday. Alphabet reported first-quarter profit of USD6.66 billion, or USD9.50 per share, compared with profit of USD9.40 billion or USD13.33 per share last year. Revenue for the quarter jumped 17% to USD36.34 billion from USD31.15 billion last year. Analysts had a consensus revenue estimate of USD37.34 billion for the quarter.Released before Tuesday's open, drugmaker Pfizer reported a 9% rise in first-quarter profit. The US pharmaceutical company's bottom line totalled USD3.88 billion, or USD0.68 per share. This compares with USD3.56 billion, or USD0.59 per share, in last year's first quarter. The company's revenue for the quarter rose 1.6% to USD13.12 billion from USD12.91 billion last year.Pfizer shares were up 2.4% in early trade in New York. After the close are eagerly awaited results from iPhone maker Apple.In European equities on Tuesday, the CAC 40 in Paris ended up 0.1%, while the DAX 30 in Frankfurt closed 0.1% higher.The euro stood at USD1.1206 at the European equities close Tuesday, against USD1.1166 at the same time on Monday.Meanwhile, pound rose to be quoted at USD1.3029 at the London equities close Tuesday, compared to USD1.2921 at the close on Monday."GBP/USD has pushed higher as the broader dip in the US dollar is propping up the pound," said David Madden at CMC Markets. "A spokesman for UK Prime Minster May said that talks with the Labour Party have been constructive, and no end date for the talks were laid out." In commodities, Brent oil was quoted at USD72.10 a barrel at the London equities close Tuesday, slightly higher compared to USD71.98 late Monday.Gold was quoted at USD1,283.68 an ounce at the London equities close Tuesday, up against USD1,279.41 at the close on Monday.In the UK corporate calendar, there are annual results from grocery J Sainsbury and first-quarter earnings from clothing retailer Next, London Stock Exchange Group, drugmaker Indivior and Metro Bank. Housebuilder Persimmon releases a trading statement. In the afternoon, at 1200 BST, are first-quarter results from pharmaceutical firm GlaxoSmithKline. On Wednesday, markets in China, German, Italy, Spain and France are closed for the Labour Day holiday. Japan is closed for Accession Day.In the UK, Nationwide housing prices are at 0700 BST followed by a manufacturing PMI at 0930 BST. In the US, ADP employment change is at 1315 BST, a precusor to Friday's closely-watched nonfarm payrolls. Then, at 1500 BST, is the ISM manufacturing PMI. Headlining the day, however, is the US Federal Reserve's latest monetary policy decision, due at 1900 BST and followed by a press conference with Fed Chair Jerome Powell at 1930 BST. "The policy statement and the post-meeting press conference with Chair Jerome Powell are likely to strike an exceptionally dovish tone," said Capital Economics.Capital Economics added: "The much-stronger than expected first quarter GDP figures and the rebound in underlying consumption and investment growth are positives, but the survey evidence has softened. And arguably the bigger concern for the Fed is the renewed weakness in core inflation."

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15 Mar 2024 12:11

LONDON MARKET MIDDAY: FTSE 100 underperforms despite mining, oil boost

(Alliance News) - London's FTSE 100 overcame a muted morning to head into Friday afternoon on the up, though its progress was shy of the loftier gains seen by mainland European peers, as investors showed some signs of trepidation ahead of a pair of interest rate decisions next week.

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14 Mar 2024 11:54

BP details green credentials in similar push towards net zero as Shell

(Alliance News) - BP PLC on Thursday outlined similar targets to cut emissions as peer Shell PLC, as both oil and gas majors strive to become net zero for carbon emissions by 2050.

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14 Mar 2024 10:19

BP picks up Ashford site to boost electric charging scope for trucks

(Alliance News) - BP PLC on Thursday stepped up plans to increase its electric charging capacity for heavy goods vehicles by buying one of the largest truck stops in Europe.

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8 Mar 2024 13:42

BP appoints Aviva boss Amanda Blanc as senior independent director

(Sharecast News) - Oil giant BP said on Friday that it has appointed Aviva chief executive Amanda Blanc as senior independent director with effect from after the annual meeting on 25 April.

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8 Mar 2024 12:20

IN BRIEF: BP promotes Aviva chief executive officer to senior director

BP PLC - London-based oil major - Non-Executive Director Amanda Blanc will be appointed as a senior independent director, effective from April 25 at the conclusion of BP's annual general meeting. Blanc joined BP's board in September 2022. She has been group chief executive officer of Aviva PLC since July 2020. Company also says Senior Independent Director Paula Reynolds will retire at the AGM's conclusion, having served on the board for nine years. Non-Executive Director John Sawers will also be retiring.

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8 Mar 2024 10:33

BP pays Auchincloss £8m in 2023, claws back £1.8m from Looney

(Sharecast News) - BP chief executive officer Martin Auchincloss was paid £8m for his services in a particularly prosperous year, it was revealed on Friday, as it managed to claw back a further £1.8m from its former head Bernard Looney.

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4 Mar 2024 15:29

London close: Stocks languish ahead of Wednesday's Budget

(Sharecast News) - London's stock markets finished in the red on Monday, reflecting investor apprehension ahead of the impending Spring Budget.

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4 Mar 2024 10:43

Jefferies upgrades BP to 'buy'

(Sharecast News) - Jefferies upgraded BP on Monday to 'buy' from 'hold' and lifted the price target to 570p from 520p.

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4 Mar 2024 08:59

LONDON BROKER RATINGS: Jefferies says buy BP; UBS says buy Compass

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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4 Mar 2024 08:55

LONDON MARKET OPEN: Review cuts Hipgnosis Songs Fund valuation

(Alliance News) - Stock prices in London opened mostly lower on Monday, as investor attention remained primarily on the release of the UK Spring budget on Wednesday.

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4 Mar 2024 07:41

LONDON BRIEFING: Stocks called down; attention on UK's spring budget

(Alliance News) - Stocks in London are called to open lower, ahead of a busy week of economic news.

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22 Feb 2024 09:49

LONDON BROKER RATINGS: Berenberg raises Moneysupermarket.com to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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15 Feb 2024 16:52

LONDON MARKET CLOSE: Stocks in green despite UK hit by recession

(Alliance News) - Stock prices in London closed higher on Thursday, after data showed that the UK economy slipped into recession in the final quarter of 2023, buoying hopes for interest rate cuts from the Bank of England.

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15 Feb 2024 14:55

London close: Stocks manage gains despite UK recession news

(Sharecast News) - London markets had a mixed but ultimately positive day of trading on Thursday, despite news that the UK fell into a technical recession at the end of 2023.

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15 Feb 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 flat as strong start fades

(Alliance News) - The FTSE 100 tread water on Thursday afternoon, as share price declines for some of London's heavyweights offset a strong start for the index, which got a boost from Bank of England rate cut hopes.

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