FTSE Nearing 10-Week Low

THURSDAY MARKET UPDATE: FTSE continues declining amid worries over the US, Europe and the Middle East, while BP reaches a £2.8 billion settlement

Alanna Petroff 15 November, 2012 | 5:45PM
Facebook Twitter LinkedIn

UK markets continued their downward trajectory on Thursday, with the FTSE 100 nearing a ten-week low. The benchmark index is now closed at 5,678, after falling by 0.8%. The FTSE 250 index also declined by 0.3% to close the trading day at 11,684.

The major laggard on the FTSE 100 on Thursday was Pennon (PNN). The UK water and sewage company saw its shares tank by 6% in the middle of the day after it released an afternoon trading update reporting troubles at its Viridor business division

Oil giant BP (BP.) was featured prominently in the headlines after it reached a settlement with the US Department of Justice over its Deepwater Horizon oil spill in the Gulf of Mexico. The company issued a statement saying the total settlement for the spill will cost £2.8 billion ($4.5 billion). It is also pleading guilty to 14 criminal charges. Of those 14, there were 11 felony counts for misconduct and neglect related to the death of 11 of its workers on the now-infamous oil rig.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

Facebook Twitter LinkedIn

Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
BP PLC313.65 GBX1.70Rating
Pennon Group PLC1,045.50 GBX1.21

About Author

Alanna Petroff

Alanna Petroff  is a financial journalist with Morningstar UK.

Audience Confirmation

By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2021 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies       Modern Slavery Statement