Good morning: There are updates and results from a handful of FTSE 100 heavyweights to pore through this morning, with BP, Glencore, Standard Chartered and Whitbread all updating investors. Despite rising oil prices — the price of Brent crude has risen more than 30 per cent since the start of the year — BP has reported this morning that profits fell in the first three months of its financial year. Underlying replacement cost profit, the oil industry’s favoured measure, was $2.4 billion in the first quarter, slightly better than the City expected but down from $2.6 billion in the same period last year. The fall “reflected the weaker price and margin environment at the start of the quarter”, the company said. Bob Dudley, chief executive…

Source: The Times April 30, 2019 08:03 UTC