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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 OPEN: Oil Majors And Taylor Wimpey Help Cushion SSE Fall

Wed, 12th Sep 2018 08:31

LONDON (Alliance News) - The FTSE 100 traded in the green early Wednesday, with selling of SSE after a profit warning offset by gains for Taylor Wimpey and for oil majors.The FTSE 100 was up 0.2%, or 11.64 points, at 7,285.18 early Wednesday. The mid-cap FTSE 250 was up 0.4%, or 72.17 points, to 20,298.59 and the AIM All-Share up 0.2% at 1,098.69.The Cboe UK 100 rose 0.3% to 12,338.76, with the Cboe UK 250 up 0.4% at 18,445.75 and the Cboe UK Small Companies flat at 12,143.01.In mainland Europe, the CAC 40 in Paris and DAX 30 in Frankfurt were both 0.2% higher in early trade on Wednesday.On the London Stock Exchange, SSE slumped in early trade, the worst performer in the FTSE 100 index as it tumbled 9.2%.The energy provider said the hot weather seen in the UK throughout the first five months of its financial year, to August 31, is expected to dent profit.Dry, still, warm weather in the financial year thus far, in addition to "persistently" high gas prices, has resulted in a higher cost of energy than expected and lower volumes of energy being consumed.As a result, SSE said its adjusted operating profit for the five months to August has been hit by around GBP190 million "compared with plan"."The net impact of higher-than-expected gas prices and other commodity price changes has accounted for just under half of this, with the impact of the weather accounting for most of the remainder," said SEE.The net result, the energy firm continued, is that SSE now expects adjusted operating profit for the first half of its financial year to be "around half" that delivered over the same period a year ago.Nonetheless, the company said it continues to expect to propose an annual dividend of 97.5 pence for its current financial year.The update from SSE hit British Gas parent Centrica as it suffered from a negative read-across, the stock down 2.4% in early trade.Edging towards the top of the index was Taylor Wimpey, up 1.2% after Barclays raised the housebuilder to Overweight from Equal Weight.Oil majors inched higher on Wednesday, with BP up 1.1% and Royal Dutch Shell 'A' and 'B' shares both up 0.9%. The companies were building on Tuesday's gains, with BP having closed up 1.0%, Shell 'A' up 1.3% and 'B' up 1.2%.This was as the price of Brent oil strengthened to USD79.26 a barrel early Wednesday, up from USD78.65 late Tuesday which, in turn, had improved from USD77.26 late Monday.Oil prices were supported by worries over global supply as well as a hurricane due to hit the US in the coming days.US sanctions against Iran are set to come into effect in the first week of November, with exports from Iran expected to fall by nearly 40%. Hurricane Florence - which is is expected to strengthen into a near-Category 5 storm as it approaches North and South Carolina - could cause flooding and power interruptions and result in the shutting down of Colonial Pipeline.In the FTSE 250, Dunelm rose 4.2% to take the top spot in the mid-cap index in early trade.The home furnishings retailer said revenue for the year to June 30 grew 9.9% to GBP1.05 billion compared to GBP955.6 million the year before. Reported pretax profit edged up to GBP93.1 million from GBP92.4 million, while on an underlying basis profit fell 6.7% to GBP102.0 million from GBP109.3 million. The underlying measure reflected a full year of trading losses reported in respect of Worldstores, a "small reduction" in the core business gross margin, and increased operating costs due, in part, to a higher mix of online sales.Like-for-like sales grew 4.2% in the period, with store comparable sales up 1.0% and online sales surging 38%.Dunelm raised its full-year dividend to 26.5p per share."The UK retail environment remains challenging, but against this difficult background we have traded in line with expectations during the current financial year to date," said Chief Executive Nick Wilkinson.Galliford Try gained 1.0% as annual profit multiplied despite the housebuilder and construction services firm taking a hit from the collapse of outsourcer Carillion at the start of 2018.Revenue for the year to June 30 grew 11% to GBP3.13 billion, as pretax profit jumped to GBP143.7 million from GBP58.7 million. Before exceptional items, profit rose 28%The company declared a full-year dividend of 77.0p, down 10% on last year's 86.0p. This, the company said, is in line with its policy announced during the year to increase its dividend cover to 2 times pre-exceptional profit.On the Aberdeen Western Peripheral Route project, the company said it has made "good progress" towards completion. Galliford Try had to book exceptional costs relating to the project during the year following the collapse of Carillion - which was a partner in the project alongside Galliford and Balfour Beatty - at the start of 2018.The total additional charge to date is GBP123 million, said Galliford, which has not increased beyond previous guidance, and of which GBP120 million has been classified as exceptional.Looking ahead, Galliford said its private and affordable homes units continue to see "good market fundamentals", while Linden Homes has made a good start to the new financial year with a "solid" order book, albeit one that is below last year but in line with 2016.In the economic calendar on Wednesday, eurozone industrial production is at 1000 BST while, in the US, producer prices are at 1330 BST.While there are no economic releases due from the UK, Wednesday's prime minister's questions will be in focus at midday, as Theresa May's role came under fresh pressure after Tory MPs spent nearly an hour war-gaming how to oust her at a private meeting.Around 50 MPs discussed ways and means of getting rid of the UK prime minister at a gathering of the European Research Group, the Press Association understands.A number of MPs told how they had already submitted letters of no confidence to Graham Brady, chairman of the 1922 Committee, and others discussed plans to follow suit. If 48 letters are handed over a vote of no confidence would be triggered.The flurry of activity came after former foreign secretary Boris Johnson launched a fresh attack on May's Brexit plan, claiming it would be "substantially worse than the status quo" for British businesses.In Asia on Wednesday, the Japanese Nikkei 225 index closed down 0.3%. In China, the Shanghai Composite ended 0.3% lower, while the Hang Seng index in Hong Kong declined 0.5% in late trade.
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UK's FTSE 100 notches record closing high in broad rally

FTSE 100 up 1.2%, FTSE 250 adds 1.2%

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Today 16:32

London close: Stocks jump on return from long weekend

(Sharecast News) - London markets closed on a high note on Tuesday, as the top-flight index surged to record highs, buoyed by positive momentum from the US and European markets.

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Today 16:08

BP profit slides by 40% as refinery outage offsets higher output

First-quarter underlying profit $2.7 bln vs forecast $2.87 bln

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Today 12:00

LONDON MARKET MIDDAY: Stocks buoyed by local data, strong US equities

(Alliance News) - Stock prices in London were up at midday on Tuesday, boosted by positive local economic data and tracking European equities that were buoyed by strong US stocks performance on Monday.

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Today 09:09

LONDON MARKET OPEN: Stocks track global equities rise while BP falls

(Alliance News) - Stock prices in London opened up on Tuesday, tracking European markets in reaction to New York stocks extending their rally on weaker US jobs data, while markets reopened in London after a bank holiday on Monday.

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Today 08:51

TOP NEWS: BP keeps up pace of share buybacks despite profit decline

(Alliance News) - BP PLC on Tuesday launched a fresh share buyback, despite a drop in first-quarter profit due to lower oil and gas prices and weaker fuels margins.

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Today 07:02

BP in $1.75bn buyback as Q1 profits fall on weaker prices, margins

(Sharecast News) - BP reported a worse-than-expected fall in first-quarter profit on the back of lower oil and gas prices, an outage at a US refinery and "significantly weaker" fuels margins as it also started a $1.75bn share buyback.

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6 May 2024 15:01

Shell to exit South Africa's downstream businesses

CAPE TOWN, May 6 (Reuters) - Oil major Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions, it said on Monday.

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3 May 2024 13:47

British regulator awards more North Sea oil and gas licences

NSTA awards 31 new licences aimed at boosting output

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2 May 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 shines but "mixed feelings" after Fed

(Alliance News) - London's FTSE 100 was solidly higher on Thursday, outperforming European peers, as earnings from the likes of Shell and Standard Chartered impressed.

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1 May 2024 18:30

Sector movers: Oil, Autos drag on FTSE 350

(Sharecast News) - Weakness in the oil patch and among select cyclicals dragged on the FTSE 350 in the middle of the week.

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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.

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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.

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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.

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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.

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