BP results cause FTSE 100 to slide

BP results cause FTSE 100 to slide

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Tuesday, 02, Feb 2010 09:32

The FTSE 100 slipped lightly in early trading on Tuesday following the announcement by BP that its annual profits had fallen by 45 per cent.

At 09:20 GMT the London index stood at 5,235.91, a drop of 11.50 points, or 0.22 per cent.

BP was the biggest loser in the first hour of trading, down 3.82 per cent to 571.9p.

Reckitt Benckiser Group also fell 3.29 per cent to 3,144p.

Leading the gains was Cable and Wireless whose shares rose 2.30 per cent in the first hour of trading to 146.6p.

Mining companies Rio Tinto and Eurasian Natural Resources Corp also recorded significant increases, up 2.26 per cent and 2.03 per cent respectively.