FTSE LIVE: BP boss to retire; UK stocks lift after deep rout

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FTSE LIVE: BP’s Bob Dudley becomes fifth FTSE firm boss to step down this week; Watchdog takes on insurance market; UK stocks lift after deep rout

  • Bob Dudley, boss of oil giant BP, will retire from the company next year  
  • Six million people paying too much for home or motor insurance, FCA has found 
  • The FTSE 100 is in the green at the open today, up 0.2% at 7,090.92 

Yesterday, markets suffered a second day of declines, amid further evidence the global economy is cooling down. 

‘Broadly disappointing services data from Europe as well as the US added weight to the argument the world economy is dropping down a gear,’ says David Madden from CMC Markets.    

Today’s US jobs report could be make or break for market sentiment, he added.     

In company news today, Bob Dudley, the chief executive of oil giant BP, has become the fifth FTSE boss this week to reveal plans to step down. 

After a nine year tenure at the helm, Dudley will retire in February and be succeeded by insider Bernard Looney. 

At the open: The FTSE 100 was in the green at the open today, up 0.2% at 7,090.92

At the open: The FTSE 100 was in the green at the open today, up 0.2% at 7,090.92

 

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