BP Drags FTSE Into the Red

MONDAY MARKET UPDATE: Falling shares in index heavyweight BP following a deal to sell its 50% stake in joint venture TNK-BP saw the FTSE 100 close moderately lower

Holly Cook 22 October, 2012 | 6:16PM
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After a strong five days on the London market last week, FTSE shares traded in lacklustre mode on Monday as investors awaited further direction from overseas data and Eurozone leaders. 

The FTSE 100 index slipped 13 points or 0.2% to close at 5,883, while the FTSE 250 index shed 34 points or 0.3% to 12,040.

The slight decline was triggered in part by corporate earnings from US industrial bellwether Caterpillar (CAT), which added its name to the list of manufacturers that have recently provided disappointing numbers and forecasts.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BP PLC313.65 GBX1.70Rating

About Author

Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

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