FTSE 100 Gains In Cautious Trade; BP Shares Slump
(RTTNews) - U.K. stocks eked out modest gains on Tuesday even as energy stocks declined following BP's disappointing third-quarter earnings results.
The benchmark FTSE 100 was up 28 points, or 0.4 percent, at 7,355 after gaining half a percent on Monday.
BP Pls shares slumped 4.6 percent after the energy giant reported a steep drop in third-quarter profits as a result of lower prices for hydrocarbons and lower than expected results from its gas trading operations. Shares of rival Shell were down 0.7 percent. Spectris rallied 3.4 percent after the precision instrumentation and controls company said it expects full-year profits to be at the top end of forecasts.
Specialty chemicals company Elementis rose over 3 percent despite reporting a fall in third-quarter revenue from last year.
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