London’s close marked a 138 point, 2.28%, fall to 5,922 on Tuesday as falling oil prices again put on the dampeners for investor sentiment.
If crude prices are a pressure for the broader market, for BP (LON:BP.) it is devastating.
The oil supermajor ended the session nearly 9% lower at 335.10p after revealing this morning that profits had halved as it posted its worst set of figures in two decades.
Aggressive cost cutting is now expected as BP scrambles to maintain dividend payouts to shareholders.
Other natural resources firms followed closely behind BP, and notably BHP Billiton (LON:BLT) shed 6.75% as fter a ratings downgrade by Standard & Poors.
Vodafone (LON:VOD) was another faller on disappointment a deal with US giant Liberty Global amounted to nothing more than a joint venture in the Netherlands. Shares in the group eased 1.7% to 221.55p.
Hikma Pharmaceutical (LON:HIK) was the best of the blue chip risers as Bank of America Merrill Lynch turned buyer. Shares rose 3.25% to 2,084p.