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Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 490.35
Bid: 490.35
Ask: 490.40
Change: -6.60 (-1.33%)
Spread: 0.05 (0.01%)
Open: 491.70
High: 492.90
Low: 485.55
Prev. Close: 496.95
BP. Live PriceLast checked at -

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UK's FTSE 100 falls as energy stocks slip; Unilever weighs

Tue, 30th May 2023 17:05

Unilever CFO to retire, shares fall

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Rolls-Royce, BAE Systems down after India files graft case

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FTSE 100 hits lowest level since March 29

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FTSE 100 down 1.4%, FTSE 250 adds 0.1%

May 30 (Reuters) - UK's FTSE 100 hit a two-month low on Tuesday, with energy shares leading declines as oil prices slipped, while Unilever dropped after the consumer goods firm announced its chief financial officer would be stepping down.

Unilever slipped 3.0% after the Dove soap maker said its CFO Graeme Pitkethly would leave the company by the end of May 2024.

The internationally-focused FTSE 100 slipped 1.4%, weighed down by energy majors Shell and BP, which fell 3.0% and 2.2% respectively.

The broader oil and gas sector lost 2.7% as oil prices skidded on concerns about the U.S. debt ceiling pact cooling the market's risk-on sentiment and mixed messages from major producers clouded the supply outlook ahead of their meeting this weekend.

"A deal may have been struck on the debt ceiling, but it's not fully calmed nervousness on financial markets," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.

The bipartisan deal to raise the $31.4 trillion U.S. debt ceiling faces its first test in Congress on Tuesday.

A stronger pound also weighed on the exporter-heavy index.

Rolls-Royce dipped 3.1% after India filed a graft case on Monday against the engine maker and BAE Systems for "criminal conspiracy" in the procurement and licensed manufacturing of 123 advanced jet trainers.

BAE Systems was down 0.8%.

The mid-cap FTSE 250 gained 0.1%, as London-listed shares of RHI Magnesita NV jumped 23.6% after the refractory products supplier received an offer to buy 20% of its stock.

UK equities have recently come under pressure on worries over more rate hikes as inflation remains stubbornly elevated. Analysts are concerned that the economy could enter a period of stagflation which would not bode well for company earnings.

Official figures showed Britain's highest inflation in four decades failed to boost company profits last year, with the exception of oil and gas extractors. (Reporting by Johann M Cherian and Shashwat Chauhan in Bengaluru; editing by Eileen Soreng and David Evans)

More News
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".

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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.

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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.

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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.

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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.

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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.

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15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

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15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

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15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

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15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

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13 Apr 2024 16:52

Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

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12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

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12 Apr 2024 16:56

LONDON MARKET CLOSE: Miners lift FTSE 100 but sea of red elsewhere

(Alliance News) - London's FTSE 100 defied a tricky day for wider markets, as its miners and oil producers shone, while the dollar was supported as odds of the US Federal Reserve enacting three interest rate cuts this year dwindle.

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12 Apr 2024 15:45

Europe's main energy stocks index hits highest since 2008

April 12 (Reuters) - The main European energy stocks index hit its highest level since 2008 as higher oil prices, geopolitical risks, and global economic uncertainty drew in investors on Friday.

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12 Apr 2024 14:45

London close: Stocks mixed as data shows UK GDP growth

(Sharecast News) - London's markets closed with a mixed performance on Friday, as investors digested the latest GDP data suggesting an end to the recession in the UK.

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