The FTSE 100 was up 28.4 points, 0.5 % to 6,127.6 as utilities are once again making their way up the FTSE 100 leaderboard, with Severn Trent and and Kelda Group both 1.9% higher at £11.97 and 786p respectively.
BP has reported first quarter replacement cost profit down 4% to $5.265bn. The result included a net non-operating charge of $17m compared with a net non-operating gain of $542m in the first quarter of 2005. The world’s second largest oil company says its Texas City refinery, which has been closed for repairs following an explosion and hurricane damage, is now running at 200,000 barrels per day. Profit reduction as a result of the Texas City closure, including the impact on associated businesses, was some $650m. Shares in the oil giant are down 0.6% to 708p following the results. The pric...
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