BUZZ-BG, BP: divergent reactions to Q3 from City

** Oil majors BG and BP, both up against theheadwind of weaker oil price, get different market responses toQ3 results.

** BG drops on worse than expected fall in profits; BP ekesout gains after good downstream performance and strong cashflow, with firm lifting dividend.

** BG down 2.9 pct, second-top FTSE 100 decliner intrading volume 3/4 of 90-day daily average after just two hourstrade. BP up 0.2 pct.

** Oil firms seen billions wiped off stock market values hitby a drop in crude to a four-year low near $85 a barrel onslowing global demand and ample supplies.

** Earnings forecasts pressured; since start of month, forBP, 18 out of 30 analysts have lowered their EPS estimates, withan average cut of 10.2 pct.

** A StarMine predicted surprise reading of -5.4 pct for FYearnings suggests downgrades are on their way.

** 10 of 28 analysts have reduced FY EPS estimates for BGsince mid-Oct, with average cut of 3.4 pct; downgrades couldalso be round the corner for BG, which has predicted surprise of-2.5 pct. (RM: tricia.wright1.thomsonreuters.com@reuters.net)

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