BP Share News (BP.)

LONDON (Alliance News) - The FTSE 100 got off to a significantly stronger start to the week than its European counterparts, in part due to a weaker pound on Monday after some disappointing UK construction data. Wm Morrison Supermarkets ended among the blue-chip risers, while the mid-cap FTSE 250 also managed to end in the green despite a drag from Ferrexpo. The FTSE 100 index closed up 13.91 points, or 0.2%, at 7,034.13. The FTSE 250 ended 37.44 points higher, or 0.2%, at 18,848.81, and the AIM All-Share shed just 0.44 of a point to 921.39.The Cboe UK 100 ended up 0.1% at 11,933.54, the Cboe UK 250 closed up 0.2% at 16,828.06, and the Cboe Small Companies fell 0.3% to 11,242.39.In European equities on Monday, the CAC 40 in Paris ended down 0.6%, while the DAX 30 in Frankfurt declined 0.3%."The mood in markets has gone from doom and gloom to cautious optimism, but after the surge of the past five weeks investors are now left wondering what can carry them forward. It would not be wise to assume that a retest of the lows of December is in the works however; Friday's jobs and wage data, plus strong PMI figures for the US, and a dovish Fed to boot, all suggest that the bulls have wrested back control after a difficult quarter at the end of 2018," said Chris Beauchamp, chief market analyst at IG.A depressed pound after weak UK construction data boosted the overseas earnings-heavy FTSE 100 on Monday, quoted at USD1.3059 at the London equities close Monday compared to USD1.3099 at the close on Friday.The pound touched a low of USD1.3041 after IHS Markit showed activity in the UK's construction sector slumped to a 10-month low in January. The purchasing managers' index reading came in at 50.6 in January, down from 52.8 recorded in December and missing consensus estimates of a score of 52.4. The reading, above the no-change mark of 50, indicates the sector is still expanding, but just barely. The euro stood at USD1.1431 at the European equities close Monday, down from USD1.1475 at the same time on Friday.Stocks in New York were mixed at the London equities close, with the DJIA down 0.1%, the S&P 500 index up 0.2%, and the Nasdaq Composite gaining 0.8%. After Wall Street closes are results from Google parent Alphabet, with the Nasdaq-listed stock trading 1.5% higher ahead of the figures.Brent oil was quoted at USD62.24 a barrel at the London equities close Monday, up from USD61.90 late Friday.Oil had risen above the USD63 mark on Monday amid supply fears prompted by US sanctions on Venezuela, but gave back gains as the trading session progressed.This saw shares in oil majors slip from earlier highs, with Royal Dutch Shell 'A' shares ending up 1.2% and 'B' shares up 2.0%. BP, which releases its annual results on Tuesday, closed 0.3% lower.Shell shares had traded nearly 3% higher earlier in Monday's session.In other commodities, gold was quoted at USD1,314.20 an ounce at the London equities close Monday against USD1,316.80 at the close on Friday.Grocer Morrisons ended among the best blue-chip performers, up 2.0% after Citigroup raised the supermarket to Neutral from Sell. In the FTSE 250, Ferrexpo shares slumped 7.9%. The iron-ore pellet producer said it is conducting a comprehensive review of funds paid to a Ukrainian charity as part of its corporate social responsibility programme, after uncovering issues with the charity's accounts.Ferrexpo said it intends to publish its 2018 results as planned on March 20. The company was unable to guarantee, however, that the review will be completed by then and - if completed - whether it will "complete favourably"."Deloitte has indicated that it may qualify or otherwise modify its audit opinion relating to the financial 2018 accounts if this is the case," Ferrexpo added.Ryanair shares shed 2.3% after the budget airline turned to a loss in the third quarter in a set of what it called "disappointing" results. The airline swung to a EUR83.6 million pretax loss from a EUR112.9 million profit in the comparative period a year ago.The results included a EUR61.5 million loss resulting from the acquisition of Austrian airline Lauda. Excluding Lauda losses, Ryanair still reported a EUR6.5 million operating loss versus a EUR126.0 million profit a year before.Looking ahead, Ryanair said that, excluding the expected "heavy" loss from Lauda in its first year of operations, its annual profit will come in between EUR1.0 billion and EUR1.1 billion due to lower winter fares but better-than-expected cost performance in the second half.A year ago, Ryanair generated a profit of EUR1.45 billion, so the decline could be as much as 31%.In other airline news, struggling regional carrier Flybe rose 3.1% to 3.30 pence after confirming it received a tentative proposal from former Stobart Group boss Andrew Tinkler, who offered a capital injection to the airline if its takeover by Connect Airways does not proceed. Connect Airways is a joint venture among Stobart, Virgin Atlantic, and DLP Holdings, which agreed to acquire Flybe for 1 pence per share earlier in January. Flybe said that Tinkler made a "very preliminary, short and highly conditional outline contingency proposal" for a capital injection into the company, which would only take place if the sale of Flybe's operating business to Connect Airways were to be stopped. The proposal wasn't an offer for the entire company, Flybe said.Stobart shares ended 0.5% lower. In Tuesday's economic calendar, UK retail sales from the British Retail Consortium and accountants KPMG are out at 0001 GMT and then a raft of services PMI readings are due from Europe, including France at 0850 GMT, Germany at 0855 GMT, the eurozone at 0900 GMT and the UK at 0930 GMT. Eurozone retail sales are at 1000 GMT, and in the afternoon is a services PMI reading for the US at 1445 GMT. Markets in China are closed all week for the New Year holiday, with Hong Kong's financial markets closed Tuesday to Thursday for the Lunar New Year holiday.Also in the UK on Tuesday are the latest grocery share figures from Kantar Worldpanel at 0800 GMT. In the UK corporate calendar, alongside BP's annual results, are full-year earnings from online grocer Ocado, while sales, marketing and support services firm DCC releases a trading statement.