North Sea is not competitive, says BP boss days after exit Markets The boss of BP has branded the North Sea as not competitive just days after putting the company’s assets in the basin up for sale. Meg O’Neill, who took over as chief executive in April said she had spoken with prime minister Andy Burnham as she justified BP’s decision to exit the North Sea. Speaking [...]
As it happened: FTSE 100 recovers after oil surge dampens mood; Strikes in the Strait of Hormuz Markets Welcome back to the City AM liveblog. Oil prices are marching higher after the latest wave of military action in the Middle East following the US reinstating its blockade on imports from Iran. Brent crude – the international benchmark for oil prices – surged above $84 per barrel on Tuesday, bringing gains for the week [...]
Fresh tech sell-off fears as investor chip frenzy cools Markets Chipmaking stocks plunged in Seoul and New York on Monday as investors opted to cash out of SK Hynix following a blistering share price rally following its Nasdaq debut last week. The Kospi, Seoul’s blue-chip index, tumbled 8.9 per cent to 6,806.9 points, dragging it further from the 9,000 mark it was touching just under [...]
Plus500 revenue surges as US prediction markets drive growth July 13, 2026 Plus500 reported a rise in revenue after the trading platform pushed into the surging US prediction markets. Revenue reached a three year record high, increasing 12 per cent year on year to $462.9m (£346m). The firm also pinned the performance on “heightened market volatility”. Earnings before tax remained flat at $187.5m, after growth was offset [...]
As it happened: Stocks rise as oil lower; Iran threatens ‘forceful response’ over Strait of Hormuz July 3, 2026 Welcome back to the City AM liveblog. The rate of traffic flowing through the Strait of Hormuz is gradually picking back up in a major boost to the oil market. Brent crude – the international benchmark for oil prices – held steady at near $72 per barrel on Friday morning. It marked a similar level [...]
Half time: London market lags as rivals across the Atlantic hit fresh highs July 1, 2026 London’s main stock market index ended the first half of 2026 within touching distance of a record high set earlier in the year, but remained off the pace set by its rival in New York. The FTSE 100’s positive-but-relatively-limited run for the period summed up a feeling of measured optimism. While it made overall gains, [...]
LSE draws up ‘worst case scenario’ US listing flight risk June 28, 2026 The London Stock Exchange is preparing for as many as 20 FTSE 100-listed companies to move their direct listings to New York, according to reports, in a move that would leave a £2bn gap in the Treasury’s earnings from stamp duty on share trades. The exchange has drawn up a worst-case scenario plan in which [...]
As it happened: Stocks higher as oil price sinks; Reeves makes bid to stay as Chancellor June 25, 2026 Welcome back to the City AM liveblog. The price of oil is heading lower this morning as the outlook around the Strait of Hormuz improves. Brent crude – the international benchmark for oil prices – tumbled below $73 per barrel, extending losses for a fourth consecutive session. These moves helped wipe out all the gains [...]
As it happened: Stocks recover after markets rocked by tech-sell off; US claims ‘good foundations’ of Iran deal June 23, 2026 Welcome back to the City AM liveblog. Markets have shrugged off the latest developments in US-Iran peace with the FTSE 100 falling at open as London got swept up in the wider sell-off that rocked Asia and Wall Street overnight. This comes despite some progress in the Middle East, with Trump’s Vice President JD Vance [...]
Jaguar Land Rover eyes cost-cutting and wealthy buyers in cyber attack recovery June 17, 2026 Jaguar Land Rover (JLR) plans to cut costs by £1.7bn and appeal to wealthy American petrol heads in a bid to recover the cost of last year’s devastating cyber attack. The British car maker, which owns brands including Range Rover and Defender, announced plans to tap into growing demand for luxury products and cater to [...]