BP losses help drag FTSE 100 into the red

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BP losses help drag FTSE 100 into the red
United Kingdom Latest News,United Kingdom Headlines
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The index was down 5.67 points, or 0.08%, closing at 7,321.72.

UK’s top stock index slipped into the red on Tuesday after being weighed down by losses for miners and energy giants.

The update comes after a turbulent quarter for the firm, with former boss Bernard Looney stepping down in September after it was revealed he had not fully disclosed prior relationships with BP staff members to the board. It was a slow start to trading over in the US with the S&P 500 up 0.3% and Dow Jones up around 0.1% by the time European markets closed.

It comes after the group earlier this month announced plans to cut up to 2,500 jobs globally to create a more “streamlined and efficient” business that meets the needs of “customers, partners and shareholders”. Its share price closed 6.4% higher.

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