BP’s latest $1.25 billion share buyback failed to keep the FTSE 100 index on the front foot, despite Wall Street markets setting fresh records last night.
Weaker commodity and financial stocks were to blame as the top flight fell back from the 20-month high seen yesterday. The S&P 500 finished at another all-time high on Monday, with electric car maker Tesla now worth $1.2 trillion after its shares surged 8%.
The focus in London has been on oil giant BP after chief executive Bernard Looney unveiled more buybacks and better-than-expected third quarter profits of $3.3 billion, aided by higher commodity prices.
