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* FTSE 100 up 0.1 pct
* BP gains after profit beat
* Centrica, Just Eat, StanChart down after results
By Danilo Masoni
MILAN, July 31 (Reuters) - Earning updates were the mainfocus for investors in British shares on Tuesday with BPrisings after quarterly profit growth at the oil major beatexpectations.
Gains in the oil heavyweight and strength among consumerstaples helped the FTSE 100 rise 0.1 percent by 0845GMT, although the benchmark index remained within recent tightranges, as other updates disappointed investors.
"A fair few to get through this morning with something like15 percent of the FTSE reporting results today," said NeilWilson, Chief Market Analyst at Markets.com.
BP rose as much as 1.6 percent as higher oil prices andincreased output boosted second-quarter profit to $2.8 billion,four times that of a year ago. The company confirmed it wouldlift its quarterly dividend for the first time in nearly fouryears.
UBS analysts said the earnings beat was notable given thatthe oil majors had reported aggregate weak results, althoughthey stuck to their buy rating and price target on the stock,which is up more than 9 percent so far this year.
BP shares pared some gains to trade up 0.7 percent.
Elsewhere results disappointed.
Centrica fell 4.8 percent to the bottom of the FTSE,amid worries over weaker performance in its consumer business.
The owner of top energy supplier British Gas posted a slightincrease in first-half earnings and said it expected to maintainits full year dividend at the current level. The result howevermissed expectations, while analysts also highlighted the weakerperformance of its Consumer business.
"The UK Consumer division is leaking cash and customers...And while it's slowing, the loss of customers needs to bearrested fast – cutting costs is working for now but is notsustainable longer term," said Wilson.
Just Eat was another top faller, down 3.8 percent, asworries over a build up in costs at the British takeaway firmovershadowed an upgrade to full-year revenues.
Just Eat, which is locked in an expensive battle withDeliveroo to be the British takeaway platform of choice, said itwould increase its investment plans to meet strong demand.
Bank Standard Chartered and Rentokil werealso lower following their earning updates.
A strong report showing higher silver production sent sharesin precious metals miner Fresnillo up 2 percent.
Among mid-caps, Provident Financial shot up 12percent after results that analyst at Peel Hunt said showed thecompany appeared to be "on the mend", even though there was moreto do, especially at its home credit business.
Provident Financial, which lost 70 percent of its value lastyear after a botched reorganisation of its home credit businessled to two profit warnings, posted a 24 percent drop infirst-half adjusted pre-tax profit.
Building materials supplier Travis Perkins slumped10 percent after saying its 2018 operating profit would be inthe lower half of the range of analyst expectations due to weakdemand in its home DIY market.(Reporting by Danilo Masoni; Editing by Jon Boyle)
BP (BP.)
