BP

Sector Update: Energy Stocks Decline Tuesday Afternoon

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.9%.The Philadelphia Oil Service Sector Index was shedding 2.4%, and the Dow Jones US Utilities Index rose 0.8%.Oil prices declined on Tuesday after President Donald Trump said the Iran war could end within days. Trump told reporters in New York that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The critical Strait of Hormuz, which remains effectively shut, would reopen "immediately" after the deal, Trump reportedly said.Front-month West Texas Intermediate crude oil fell 3.6% to $88.05 a barrel, and the global benchmark Brent crude contract dropped 2.8% to $91.59 a barrel. Henry Hub natural gas futures increased 0.3% to $3.16 per 1 million BTU.In corporate news, BP (BP) said Tuesday the company will be run under a new, simplified organizational structure -- Upstream and Downstream -- from July 1. Shares were down 2.7%.Uranium Energy (UEC) shares tumbled 16% after the firm reported a fiscal Q3 net loss of $0.11 per share, widening from a loss of $0.07 a year earlier. Analysts surveyed by FactSet expected a loss of $0.03.Halliburton (HAL) said it has entered into an agreement with Pampa Energia to support the digital transformation of its unconventional operations in Argentina's Vaca Muerta shale region. Halliburton shares declined 2.7%.

Sector Update: Energy

Energy stocks were lower Tuesday afternoon, with the NYSE Energy Sector Index falling 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1.6%.The Philadelphia Oil Service Sector Index was shedding 2.4%, and the Dow Jones US Utilities Index rose 1%.Oil prices declined on Tuesday after President Donald Trump said the Iran war could end within days. Trump told reporters in New York that a diplomatic resolution to the Middle East conflict could be reached in "two or three days," CNBC reported. The critical Strait of Hormuz, which remains effective shut, would reopen "immediately" after the deal, Trump reportedly said.Front-month West Texas Intermediate crude oil fell 3.9% to $87.77 a barrel, and the global benchmark Brent crude contract dropped 3% to $91.43 a barrel. Henry Hub natural gas futures increased 0.2% to $3.15 per 1 million BTU.In corporate news, BP (BP) said Tuesday that the company will be run under a new, simplified organizational structure composed of two distinct business segments -- Upstream and Downstream -- beginning July 1. BP shares were down 2.6%.

European Equities Traded in the US as American Depositary Receipts Track Higher in Tuesday Trading

European equities traded in the US as American depositary receipts were trending higher late Tuesday morning, rising 0.80% to 1,882.97 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and semiconductor company Sequans Communications (SQNS), which rose 3.8% and 3.7% respectively. They were followed by healthcare tech company Royal Philips (PHG) and biopharmaceutical company Grifols (GRFS), which were up 2.9% and 2.5% respectively.The decliners from continental Europe were led by telecommunications company Ericsson (ERIC) and petroleum refiner Equinor (EQNR), which dropped 5% and 2.6% respectively. They were followed by telecommunications company Nokia (NOK) and SAP (SAP), which lost 1.5% and 1% respectively.The gainers from the UK were led by communications company WPP (WPP) and biopharmaceutical company Amarin (AMRN), which advanced 7.9% and 5.6% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which increased 5.1% and 2.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and oil and gas company BP (BP), which fell 2.2% and 1.8% respectively. They were followed by oil and gas company Shell (SHEL) and lender HSBC (HSBC), which were down 1.3% and 1.1% respectively.

Sector Update: Energy Stocks Lean Lower Premarket Tuesday

Energy stocks were leaning lower premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.5%.The United States Oil Fund (USO) was down 2.4% and the United States Natural Gas Fund (UNG) was flat.Front-month US West Texas Intermediate crude oil was 2.5% lower at $89.04 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 2.3% to $92.04 per barrel, and natural gas futures were up 0.2% at $3.15 per 1 million British Thermal Units.BP (BP) said it will be run under a new, simplified organizational structure composed of two distinct business segments, upstream and downstream, beginning July 1. Shares of BP were 0.8% lower pre-bell.Halliburton (HAL) said it has signed a multi-year agreement with Pampa Energia to support the digital transformation of its unconventional operations in Argentina's Vaca Muerta shale region. Halliburton stock was down 0.9% premarket.Equinor (EQNR) said its corporate assembly elected Jarle Roth as chair of the board beginning July 1, following the departure of Jon Erik Reinhardsen. Equinor shares were 1.6% lower pre-bell.

Sector Update: Energy

Energy stocks were leaning lower premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.5%.The United States Oil Fund (USO) was down 2.1% and the United States Natural Gas Fund (UNG) was 1.1% higher.Front-month US West Texas Intermediate crude oil was 2.1% lower at $89.42 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.5% to $92.86 per barrel, and natural gas futures were up 1.2% at $3.18 per 1 million British Thermal Units.BP (BP) said it will be run under a new, simplified organizational structure composed of two distinct business segments, upstream and downstream, beginning July 1. Shares of BP were 0.7% lower pre-bell.

BP to Reorganize Around Two Distinct Segments: Upstream and Downstream

BP (BP) said Tuesday that the company will be run under a new, simplified organizational structure composed of two distinct business segments -- Upstream and Downstream -- beginning July 1.Gordon Birrell has been appointed as executive vice president for Upstream, while Richard Harding was named interim executive vice president for Downstream, BP said.

BP to Reorganize Around Two Distinct Segments: Upstream and Downstream

Update: Market Chatter: BP Investors Raise Strategy Concerns After Chairman Manifold's Removal

(Updates with company response)Certain BP (BP) shareholders are raising concerns over the company's future strategy following the removal of Chairman Albert Manifold, the Financial Times reported Tuesday, citing investors.Manifold led the company's restructuring plan and cost-cutting drive, and his departure left investors worried that BP would lose its momentum, the report said. BP told investors that it would continue Manifold's strategy of simplifying the company, FT reported.Shareholders were also looking for more clarity over Manifold's removal, claiming limited details were disclosed over the circumstances that led to his departure, according to the report.BP reiterated tothat it is firmly focused on cost discipline and delivering value for shareholders.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: BP Investors Raising Strategy Concerns After Chairman Manifold's Removal

Certain BP (BP) shareholders are raising concerns over the company's future strategy following the removal of Chairman Albert Manifold, the Financial Times reported Tuesday, citing the investors.Manifold led the company' restructuring plan and cost-cutting drive and his departure left investors worried that BP would lose its momentum, the report said. BP told investors that it would continue Manifold's strategy of simplifying the company, FT reported.Shareholders were also looking for more clarity over Manifold's removal, claiming limited details were disclosed over the circumstances that led to his departure, according to the report.BP did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

SLB OneSubsea Secures Contract for BP Project in US Gulf

SLB OneSubsea, a joint venture partly owned by energy technology firm SLB (SLB), has been awarded a contract from BP (BP) to provide a subsea boosting system for the latter in the Gulf of Mexico, recognized by the US government as Gulf of America, SLB said on Monday.The engineering, procurement and construction contract for BP's project dubbed Thunder Horse, comes after other BP contract awards to OneSubsea for the Kaskida and Tiber developments.All three will make use of the same boosting system solution, SLB said.Its benefits include improved execution efficiency and shorter delivery times, the statement said."Subsea boosting is an important enabler for extending production from existing assets," said Mads Hjelmeland, CEO of SLB OneSubsea.

European Equities Traded in the US as American Depositary Receipts Start Week Higher in Monday Trading

European equities traded in the US as American depositary receipts kicked off the week higher late Monday morning, lifting 0.82% to 1,874.41 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by semiconductor company Sequans Communications (SQNS) and biotech firm Evaxion (EVAX), which rose 7% and 4.5% respectively. They were followed by accommodations booking company trivago (TRVG) and telecommunications company Nokia (NOK), which increased 4.4% and 1.7% respectively.The decliners from continental Europe were led by pharmaceutical company Novo Nordisk (NVO) and biopharmaceutical company Cellectis (CLLS), which fell 2.9% and 2.3% respectively. They were followed by pharmaceutical company Sanofi (SNY) and biopharmaceutical company Grifols (GRFS), which were down 2% each.The gainers from the UK were led by biopharmaceutical companies Biodexa Pharmaceuticals (BDRX) and NuCana (NCNA), which advanced 4.5% and 3.3% respectively. They were followed by oil and gas company BP (BP) and biopharmaceutical company Amarin (AMRN), which were up 1.7% and 1.6% respectively.The decliners from the UK and Ireland were led by biotech company Autolus Therapeutics (AUTL) and biopharmaceutical company Mereo BioPharma Group (MREO), which dropped 4.2% and 2.4% respectively. They were followed by utilities company National Grid (NGG) and pharmaceutical company GSK (GSK), which lost 2% and 1.2% respectively.

Sector Update: Energy Stocks Advance Premarket Monday

Energy stocks were advancing premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.7% higher.The United States Oil Fund (USO) was up 1.9% and the United States Natural Gas Fund (UNG) was 2.8% lower.Front-month US West Texas Intermediate crude oil was 1.3% higher at $91.69 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.7% to $94.68 per barrel, and natural gas futures were down 3.1% at $3.13 per 1 million British Thermal Units.Eni (E) and Petronas have launched a new 50/50 joint venture called Searah that will combine businesses across Indonesia and Malaysia, the companies said. Shares of Eni were up more than 1% pre-bell.Devon Energy (DVN) stock was up more than 1% after the company said between 66% and 98% of notes across seven bond series were tendered early to its exchange offers.SLB (SLB) said its OneSubsea joint venture won a contract from BP (BP) to provide a subsea boosting system for the Thunder Horse development in the Gulf of America. SLB shares were 0.5% higher premarket.

Sector Update: Energy Stocks Decline Friday Afternoon

Energy stocks declined Friday afternoon with the NYSE Energy Sector Index falling 1.4% and the State Street Energy Select Sector SPDR ETF (XLE) shedding 1.2%.The Philadelphia Oil Service Sector Index slumped 3.5%, and the Dow Jones US Utilities Index advanced 1.2%.In sector news, skirmishes continued overnight between Hezbollah and Israel in southern Lebanon after the Iran-backed militant group rejected a US-brokered proposal aimed at securing a broader truce, Bloomberg reported.US President Donald Trump said he would meet with Iranian Supreme Leader Ayatollah Mojtaba Khamenei if a deal is finalized to end the US-Iran war.West Texas Intermediate crude oil fell 3.2% to $90.04 a barrel, and global benchmark Brent declined 2.2% to $92.96 a barrel. Henry Hub natural gas futures dropped 3.5% to $3.22 per 1 million BTU.In corporate news, Eni (E) signed a petroleum exploration, development and production license agreement with the government of Gambia for the offshore block A1. Eni shares dropped 0.9%.BP (BP) agreed to subscribe for 10 million British pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said. BP stock fell 1.4%.Turbo Energy (TURB) regained compliance with Nasdaq's minimum stockholders' equity requirement after strengthening its balance sheet through $5 million in capital raises. Turbo shares fell 3.4%.

Pakistan Buys Priciest LNG Shipment in Years From BP Singapore

Pakistan secured a cargo of liquefied natural gas at $19.13 per million British thermal units from BP (BP), the country's most expensive LNG shipment in four years, as it grapples with an energy shortage amid the double closure of the Strait of Hormuz.The purchase, for delivery between Jun. 6 and 8, reportedly follows the cancellation of a planned shipment from Qatar amid heightened tensions in the Middle East.The LNG tender that closed on Thursday included global energy firms such as PetroChina, Vitol, TotalEnergies (TTE), and Azerbaijan's SOCAR Trading.Pakistan is among the hardest hit by the Middle East conflict, as it depends on Qatar for nearly all its LNG and has experienced rolling blackouts due to severe fuel shortages, according to media reports.Price: $43.42, Change: $-0.62, Percent Change: -1.41%

BP Secures Long-Term Crude Offtake Rights in New Deal with Coastal Africa Group

BP (BP) has secured exclusive rights to market and lift crude oil and condensate from future projects developed by Coastal Africa Group under a long-term agreement linked to a convertible loan facility, the companies said on Friday.Coastal Africa Group said it entered into an exclusivity agreement with BP Oil, granting the energy firm and its affiliates the exclusive right to offtake and market all crude oil and condensate production to which the group becomes entitled through its projects.The deal is part of a broader financing package tied to a convertible loan note agreement and positions BP as the preferred marketing partner for future hydrocarbon output generated by Coastal Africa's portfolio.Under the deal, BP's exclusivity will remain in place until it has lifted a specified minimum aggregate volume of crude oil and condensate under separate offtake and marketing agreements. Coastal Africa said that any extension beyond that period would require mutual consent.Coastal Africa agreed to use reasonable efforts to structure future projects and commercial arrangements so that either the energy firm or BP could market production from project partners and third-party producers.The agreement includes financial penalties designed to protect BP's exclusivity. Coastal Africa and its subsidiaries may be liable to pay per-barrel damages if they breach the exclusivity provisions.The agreement can be terminated under certain conditions, including insolvency events or changes of control affecting either party. Termination, in some cases, could trigger compensation payments by Coastal Africa based on the minimum committed volume.BP also retains the right to terminate the agreement without cause upon written notice. The exclusivity arrangement will remain effective regardless of whether the convertible loan is repaid or converted into equity, and will not be affected if BP subsequently sells any shares.Price: $43.89, Change: $-0.15, Percent Change: -0.34%

Sector Update: Energy Stocks Advance Pre-Bell Friday

Energy stocks were advancing pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%The United States Oil Fund (USO) was down 0.9% and the United States Natural Gas Fund (UNG) was 1.8% lower.Front-month US West Texas Intermediate crude oil was 1.2% lower at $91.90 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.9% to $94.16 per barrel, and natural gas futures were down 1.2% at $3.30 per 1 million British Thermal Units.BP (BP) agreed to subscribe for 10 million British Pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said. BP stock was 0.5% lower premarket.Eni (E) has signed a petroleum exploration, development and production license agreement with the government of Gambia for the block A1 offshore the republic, the company said. Shares of Eni were down 0.1% pre-bell.

Sector Update: Energy

Energy stocks were advancing pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%The United States Oil Fund (USO) was down 0.6% and the United States Natural Gas Fund (UNG) was 1% lower.Front-month US West Texas Intermediate crude oil was 0.5% lower at $92.56 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 0.4% to $94.64 per barrel, and natural gas futures were down 1.4% at $3.29 per 1 million British Thermal Units.BP (BP) agreed to subscribe for 10 million British Pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said. BP stock was 0.8% lower premarket.

BP, Coastal Africa Group Sign $13.5 Million Loan, Exclusivity Agreements

BP (BP) agreed to subscribe for 10 million British Pounds ($13.5 million) in convertible loan notes and secure exclusive crude oil marketing rights in new agreements, Coastal Africa Group said Thursday.The debt will mature in 4 years and carry an interest rate of the compounded daily SONIA plus 3% annually, the company said.The marketing partnership grants the buyer exclusive rights to lift and sell all crude oil and condensate production until a specified minimum volume is reached, it said.The arrangement also features a right of first offer for non-financed projects and requires per-barrel damages for any exclusivity breach, Coastal Africa Group said.

Exchange-Traded Funds, Equity Futures Mixed Pre-Bell Wednesday Amid Fresh Economic Signals

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.5% in Wednesday's premarket activity, as markets traded mixed amid caution about fresh employment and inflation indicators.US stock futures were mixed, with S&P 500 Index futures down 0.1%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures gaining 0.2% before the start of regular trading.US mortgage applications fell 2.5% in the week ended May 29, extending the prior week's decline despite lower 30-year mortgage rates, Mortgage Bankers Association data showed Wednesday.US private-sector employment increased by 122,000 jobs in May, slightly exceeding expectations, with hiring led by education and health services, trade, transportation and utilities, and construction, ADP data showed Wednesday.The May purchasing managers' index composite final report from S&P Global will be released at 9:45 am ET, followed by the Institute for Supply Management's services survey for May at 10:00 am ET.Factory orders data for April are scheduled to be released at 10:00 am ET, followed by the weekly oil stocks data at 10:30 am ET.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are due to speak on Wednesday.In premarket action, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.5% lower, Ether ETF (EETH) retreated by 1.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.01%.Power Play:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was down 1.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.1% higher.Blackstone (BX) shares were down more than 5% pre-bell after Bloomberg reported the company is mulling the sale of payments services provider, SP.LINKS, looking to fetch about 100 billion Japanese yen ($626 million) from the transaction.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.01% lower.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced by 0.4%, and the iShares US Technology ETF (IYW) was 0.4% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.5%, while the iShares Semiconductor ETF (SOXX) rose by 2%.Sprinklr (CXM) shares were down more than 5% in premarket activity after the company reported lower fiscal Q1 non-GAAP earnings.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) declined by 0.5%, while the Vanguard Industrials Index Fund (VIS) was down 0.7% and the iShares US Industrials ETF (IYJ) was inactive.T1 Energy (TE) stock was up 3% before the opening bell after the company said it had agreed to acquire Kore Power in a deal valued at $32 million in equity, cash, and assumed debt.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.02% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was down 0.4%. The iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) decreased by 0.8%.Ferrari (RACE) shares were down 1% pre-bell after closing the prior day with a 1.3% rise. The vehicle maker said Wednesday it has signed a multi-year contract extension with Charles Leclerc.EnergyThe iShares US Energy ETF (IYE) was up 0.7%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.6%.BP (BP) stock was up more than 1% before market open, following a 1% gain in the previous session. The Financial Times reported Tuesday that the company held advanced talks to sell its UK North Sea assets to Ithaca Energy in a nearly 2 billion British pounds ($2.7 billion) deal, though negotiations failed in recent weeks, with the oil major still exploring a sale to other potential buyers.CommoditiesFront-month US West Texas Intermediate crude oil gained by 2.2% to $95.82 per barrel on the New York Mercantile Exchange. Natural gas was up 0.3% to $3.18 per 1 million British Thermal Units. The United States Oil Fund (USO) rose by 2.7%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for July retreated by 0.7% to $4,488.90 an ounce on the Comex. Silver futures declined by 1.2% to $74.66 an ounce. SPDR Gold Shares (GLD) was down by 0.5%, and the iShares Silver Trust (SLV) decreased by 1%.

US Equity Futures Mixed Pre-Bell as US, Iran Continue Military Strikes in Middle East

US equity futures were mixed pre-bell Wednesday as the US and Iran exchanged military strikes in the Middle East and progress on peace talks remained uncertain.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% higher.The US Central Command reported Tuesday the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said Iran has agreed to not have nuclear weapons, according to a CNBC report citing the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $98.38 per barrel and US West Texas Intermediate crude 2.8% higher at $96.39 per barrel.ADP's national employment report showed that private sector employment increased by 122,000 in May, compared with expectations for a 120,000 gain in a survey compiled by Bloomberg.The S&P Global composite purchasing managers' index final report for May, due at 9:45 am ET, is seen to be unchanged at 51.7. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, Palo Alto Networks stock was down 3.8% after reporting its fiscal Q3 financial results. Palantir Technologies (PLTR) shares fell 1% after a UK parliamentary committee said that the company's expanding role across the UK public sector represents an "unacceptable point of weakness." Novartis (NVS) stock was down 1% after Celcuity (CELC) reported that detailed results from a phase 3 trial showed its investigational breast cancer treatment gedatolisib outperformed Novartis' alpelisib plus fulvestrant in patients with hormone receptor-positive, HER2-negative, PIK3CA-mutated advanced breast cancer.On the winning side, Sherwin-Williams (SHW) shares were up 3.6% after the company and Nippon Paint Group said they had abandoned their joint attempt to buy AkzoNobel. BP (BP) stock was up 1.3% after the Financial Times reported that the company held advanced talks to sell its UK North Sea oil and gas assets to Ithaca Energy in a deal potentially worth close to 2 billion British pounds ($2.7 billion).