City Of London
BP’s Two-Day Surge Drives FTSE 100 Index Back to Record High
- Oil giant jumps 12% in two days as shareholders set for payday
- Barclays says ‘misunderstood’ stock could rally to 1,000 pence
A BP Plc logo on a totem sign at a petrol station forecourt in London, UK.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
BP Plc shares rose for a second day to push the UK FTSE 100 index back to a record high after the oil giant on Tuesday pledged to hand more cash back to shareholders.
The stock rose as much as 3.4% to 533.7 pence on Wednesday, adding to an 8% rise in the prior session. Tuesday’s gain was the biggest for BP’s stock on any quarterly results day for at least a decade, according to data compiled by Bloomberg.