FTSE 100 movers: BP heads higher

17th Jun 2010 14:56

BP and banks are pushing Footsie higher today. Clarity on the issue of BP's dividends and the staggered nature of payments into Escrow has reassured investors. BP has cancelled dividends for the rest of the year and agreed to a demand from US president Obama to put $20bn in an escrow account to cover claims resulting from the oil spill in the Gulf of Mexico. The oil company will pay $3bn into the escrow account in the third quarter of 2010 and $2bn in the fourth quarter. This will by followed by payments of $1.25bn a quarter until a total of $20bn has been reached. The banks are higher due to improved investor confidence in the economy. Lloyds Banking, Standard Chartered and Royal Bank of Scotland are the biggest risers. RBS has sold its retail banking business in Kazakhstan for $52m.Mining companies are heading lower today. Falling metals prices have hit Fresnillo and Eurasian Natural Resources. FTSE 100 - RisersBP (BP.) 360.00p +6.82%Lloyds Banking Group (LLOY) 57.65p +3.63%Standard Chartered (STAN) 1,761.50p +3.28%Royal Bank of Scotland Group (RBS) 46.52p +2.99%Man Group (EMG) 245.80p +2.76%Johnson Matthey (JMAT) 1,609.00p +2.35%Barclays (BARC) 311.00p +2.02%Reckitt Benckiser Group (RB.) 3,339.00p +1.83%Inmarsat (ISAT) 763.00p +1.73%Sage Group (SGE) 248.30p +1.35%FTSE 100 - FallersFresnillo (FRES) 1,027.00p -2.65%Eurasian Natural Resources (ENRC) 1,044.00p -2.06%Petrofac Ltd. (PFC) 1,261.00p -2.02%TUI Travel (TT.) 227.40p -1.98%British Land Co (BLND) 453.40p -1.86%Land Securities Group (LAND) 618.50p -1.59%Centrica (CNA) 299.30p -1.55%SEGRO (SGRO) 273.60p -1.48%Thomas Cook Group (TCG) 202.50p -1.46%Severn Trent (SVT) 1,231.00p -1.44%