BP tumbles as chief executive plays down takeover talk after disappointing results
BP said on Tuesday that it had suffered a drop in third-quarter profits, due to weaker energy prices. Photograph: Neil Hall/EPA
Ires REIT added 1.3 per cent to close the session out at 91 cent per share after a trading update on Tuesday that traders in Dublin said was well received. The largest private residential landlord in the State said it had reduced its loan-to-value ratio to 41.9 per cent from 44.6 per cent in June after raising €96.5 million from the disposal of numerous assets. It also announced chief executive Margaret Sweeney’s plans to retire from the company she has helmed for more than six years.
Stellantis gained as it reported better-than-expected third-quarter revenue, bolstered by stable pricing, improving logistics and robust demand for models such as the electric Jeep Avenger. The lower than expected profits, which tumbled from £6.8 billion in the same months last year, mark BP’s first set of financial results since the board appointed BP’s chief financial officer, Murray Auchincloss, to the top job on an interim basis.
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