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Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 515.80
Bid: 516.20
Ask: 516.40
Change: 6.40 (1.26%)
Spread: 0.20 (0.039%)
Open: 508.50
High: 517.60
Low: 503.60
Prev. Close: 509.40
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London midday: Markets flat as BoE holds fire, traders await ECB

Thu, 04th Apr 2013 11:19

The FTSE 100 was little changed by Thursday lunchtime as the Bank of England (BoE) voted to monetary policy on hold, as all eyes turn to the European Central Bank (ECB) ahead of its policy decision in the coming hours.Traders also had to digest a number of mixed economic indicators this morning, which showed that the UK services sector expanded in March, while European activity contracted.The Markit/CIPS purchasing managers' index (PMI) for the dominant service sector in the UK climbed to 52.4 in March from 51.8 in February, beating the 51.5 market consensus. However, the final reading of the Eurozone services PMI dropped from 47.9 to 46.4, below the preliminary reading of 46.5.All eyes on the central banksOvernight, the Bank of Japan (BoJ) introduced new aggressive monetary easing measures as its new Governor Haruhiko Kuroda took the helm determined to fight deflation. The BoJ left rates untouched at record lows but indicated that it would pursue quantitative easing as long it was necessary in order to achieve its 2.0% inflation target. At midday, the BoE revealed that it had decided to stand pat on monetary policy, as widely expected, with the Bank Rate staying at 0.5% and the asset purchase programme remaining at £375bn. However, meetings of the Monetary Policy Committee in recent months had seen a increased number of members calling for more quantitative easing so markets will have to wait a further two weeks before details of the April vote are revealed.The ECB is also expected to hold fire on rates and stimulus measures at its meeting today. However, investors will be watching the press conference with ECB President Mario Draghi closely for any hints of a rate cut some time in the future given the recent poor run of economic data, political uncertainty in Italy and fragile conditions in Cyprus.Market Strategist Ishaq Siddiqi from ETX Capital said: "Some believe [Draghi] may be under pressure to consider multiple options such as another round of long-term refinancing operations, interest rate cuts and encourage lending to corporates in the region to ease liquidity conditions. Much of the questions in the Q&A press conference post the rate call will be about Cyprus and Italy."FTSE 100: Miners rebound after recent weaknessMining stocks such as ENRC, EVRAZ and Antofagasta were on the up this morning, recovering after their recent falls. Vedanta was a high riser, extending gains made yesterday after the High Court of Bombay at Goa approved the group's restructuring. While final approval from the Madras High Court is still needed, the stock was given a lift this morning by an upgrade from Bank of America Merrill Lynch to 'buy'.Property giant British Land rose after buying out joint-venture partner Tesco in the Surrey Quays Shopping Centre in an attempt to accelerate its investment programme in London and the South East. AMEC, the consultancy, engineering and project management outfit, was higher after reporting that the order book edged higher in the first quarter, giving it good visibility for 2013 and beyond.IAG was lower after saying that it has signed a deal for 18 of Boeing's 787 Dreamliners to upgrade its British Airways fleet.Oil giant BP was also in the red as it gets set to appeal tomorrow against the amount of its $8.5bn settlement over the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.FTSE 250: Domino's, BTG among the risers early onDomino's Pizza jumped early on after delivering some tasty first-quarter number, with like-for-like sales up 6.6% trances to new products such as its Hot Dog Stuffed Crust.Healthcare group BTG was also sharply higher after upwardly revising its revenue forecast for the full year ended March 31st.FTSE 100 - RisersEurasian Natural Resources Corp. (ENRC) 240.20p +6.95%Vedanta Resources (VED) 1,066.00p +5.65%Royal Bank of Scotland Group (RBS) 282.60p +4.24%Amec (AMEC) 1,115.00p +3.34%Antofagasta (ANTO) 981.50p +3.04%Johnson Matthey (JMAT) 2,331.00p +2.01%Petrofac Ltd. (PFC) 1,444.00p +1.83%Anglo American (AAL) 1,673.50p +1.42%British Land Co (BLND) 555.50p +1.37%Xstrata (XTA) 1,058.50p +1.29%FTSE 100 - FallersReed Elsevier (REL) 765.50p -3.04%Aberdeen Asset Management (ADN) 415.30p -2.83%Randgold Resources Ltd. (RRS) 5,230.00p -2.70%ARM Holdings (ARM) 892.00p -2.62%ITV (ITV) 126.60p -1.94%Admiral Group (ADM) 1,333.00p -1.62%Legal & General Group (LGEN) 170.20p -1.56%Carnival (CCL) 2,233.00p -1.54%GKN (GKN) 265.30p -1.52%Evraz (EVR) 200.50p -1.47%FTSE 250 - RisersDomino's Pizza Group (DOM) 608.00p +6.48%Kazakhmys (KAZ) 370.50p +5.65%Rightmove (RMV) 1,850.00p +4.05%ITE Group (ITE) 287.60p +3.23%Petropavlovsk (POG) 200.70p +3.13%African Barrick Gold (ABG) 188.20p +2.79%International Personal Finance (IPF) 465.60p +2.28%BTG (BTG) 366.30p +2.15%Carpetright (CPR) 625.00p +2.04%Tullett Prebon (TLPR) 261.00p +2.03%FTSE 250 - FallersHeritage Oil (HOIL) 161.00p -9.35%Centamin (DI) (CEY) 42.21p -7.47%Fidessa Group (FDSA) 1,862.00p -4.02%Genus (GNS) 1,514.00p -3.87%Afren (AFR) 134.60p -3.86%Marston's (MARS) 135.00p -3.78%De La Rue (DLAR) 930.50p -3.58%Micro Focus International (MCRO) 679.00p -3.28%Synthomer (SYNT) 206.50p -3.28%Senior (SNR) 242.90p -3.15%BC
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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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