Good morning from London where the FTSE 100 edged higher early on despite a rough start to the day for energy giant BP PLC (LSE:BP.). More than £4bn was wiped off the firm’s value after its Q3 results showed profits falling by more than half, with its gas business performing particularly badly.
Also slipping early on was Vodafone Group PLC (LSE:VOD), as the city reacted to confirmation that its Spanish wing would be sold to Zegona Communications in a deal worth €5 billion.
Double-digit organic revenue growth failed to push up Coca Cola HBC AG (LSE:CCH) stock on Tuesday too, as the bottling company’s third-quarter earnings revealed a hit from foreign exchange rates.
It wasn’t all doom and gloom of course and manufacturing giant Rolls-Royce Holdings PLC (LSE:RR.) and Pearson PLC (LSE:PSON) both jumped in early trading, with the latter having unveiled strong results on Monday.
The other top gainer this morning is property investment company SEGRO PLC (LSE:SGRO), which is bucking the trend in commercial property and managing to grow its rent roll very nicely indeed.