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    BP.   GB0007980591

BP PLC

(BP.)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 06/16 07:13:07 am
331.4 GBX   -0.39%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

European stocks rise as oil shares surge, shrug off U.S. inflation worries

05/12/2021 | 12:20pm EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks rose on Wednesday, led by a charge in energy shares as oil prices hit two-year highs, while strong regional earnings reports and signs of speedy economic recovery offset concerns about a rapid rise in U.S. prices.

The pan-European STOXX 600 index rose 0.3% after falling almost 2% on Tuesday, their worst selloff this year.

The European oil & gas index jumped 2.0%, with shares of Royal Dutch Shell Plc , BP Plc, Paris-listed shares of TechnipFMC rising over 3.5% each.

A jump in crude prices driven by signs of a swift economic rebound and upbeat forecasts for energy demand also pushed London's FTSE 100 index up 0.8%.

Data showed Britain's economy grew by a stronger-than-expected 2.1% in March from February. [.L]

Major European bourses also shrugged off a surprisingly strong read on U.S. inflation which dragged down Wall Street's main indexes deep in the red. [.N]

"In Europe dollar strength has borne down on the euro and sterling and allowed space for rallies in indices across the continent," said Chris Beauchamp, chief market analyst at IG.

"Another sign that perhaps European markets are the next 'place to be' for many investors."

Ample liquidity, a global semiconductor shortage and a recent rally in commodity prices are heightening fears of inflation as developed economies gradually reopen after lockdowns imposed to curb coronavirus outbreaks.

Miners provided the biggest boost, with shares of Glencore, Anglo American and Rio Tinto gaining about a percent each as commodity prices continued to rally. [MET/L]

"We have a kind of central bank-sanctioned rally in commodities because they want the economy to run hot. That is great for industrials and materials and those stocks will continue to do well," said Marija Veitmane, senior multi-asset strategist at State Street Global Markets.

European earnings are now expected to surge 90.2% in the first quarter, as per Refinitiv IBES data, up from a forecast of 83.1% growth last week.

German lender Commerzbank jumped 8.6% after it beat expectations for first-quarter profit and raised its revenue outlook.

Spirits maker Diageo rose 3.4% on restarting its capital return program, while Amsterdam-based technology investor Prosus NV gained 2.1%, buoyed by plans to acquire up to 45.4% of shares in its parent Naspers.

French video games company Ubisoft fell 11.1% after it warned that operating profit might fall this financial year.

(Reporting by Shreyashi Sanyal and Sruthi Shankar in Bengaluru; Editing by Anil D'Silva and Mark Heinrich)

By Shreyashi Sanyal and Sruthi Shankar


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ANGLO AMERICAN PLC -1.92% 2942.5 Delayed Quote.23.70%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.31% 0.63571 Delayed Quote.0.99%
BP PLC -0.32% 331.55 Delayed Quote.30.57%
BRITISH POUND / EURO (GBP/EUR) 0.32% 1.16478 Delayed Quote.4.01%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.08% 0.677392 Delayed Quote.5.56%
COMMERZBANK AG -1.48% 6.333 Delayed Quote.22.10%
DIAGEO PLC 0.63% 3500.3676 Delayed Quote.20.87%
FTSE 100 0.08% 7176.94 Delayed Quote.11.02%
GLENCORE PLC -2.94% 311.65 Delayed Quote.37.77%
INDIAN RUPEE / EURO (INR/EUR) 0.10% 0.011252 Delayed Quote.0.58%
LONDON BRENT OIL 0.03% 74.28 Delayed Quote.41.35%
NASPERS LIMITED -0.20% 2984.13 End-of-day quote.-1.17%
PROSUS N.V. 1.26% 85.1 Real-time Quote.-4.84%
RIO TINTO PLC -0.96% 5958 Delayed Quote.9.95%
ROYAL DUTCH SHELL PLC 0.17% 17.41 Real-time Quote.18.91%
STOXX EUROPE 600 NR 0.19% 1027.37 Delayed Quote.16.60%
TECHNIPFMC PLC 1.22% 9.96 Delayed Quote.5.96%
US DOLLAR / EURO (USD/EUR) 0.06% 0.825375 Delayed Quote.0.77%
WTI -0.15% 72.304 Delayed Quote.47.40%
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Financials (USD)
Sales 2021 227 B - -
Net income 2021 9 801 M - -
Net Debt 2021 39 838 M - -
P/E ratio 2021 9,93x
Yield 2021 4,48%
Capitalization 94 416 M 94 480 M -
EV / Sales 2021 0,59x
EV / Sales 2022 0,55x
Nbr of Employees 63 600
Free-Float 93,9%
Chart BP PLC
Duration : Period :
BP plc Technical Analysis Chart | MarketScreener
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Technical analysis trends BP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 4,94 $
Last Close Price 4,68 $
Spread / Highest target 54,4%
Spread / Average Target 5,52%
Spread / Lowest Target -39,5%
EPS Revisions
Managers and Directors
NameTitle
Bernard Looney Chief Executive Officer & Director
Murray Auchincloss Chief Financial Officer & Director
Helge Lund Chairman
Gordon Young Birrell Executive Vice President-Production & Operations
Paula Rosput Reynolds Senior Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
BP PLC30.57%94 480
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CHINA PETROLEUM & CHEMICAL CORPORATION19.60%83 454
NESTE OYJ-6.86%51 316