BP earnings to test shaken FTSE

EARNINGS from Britain’s biggest listed company, oil major BP, will test the shaken FTSE 100 index this week after disappointing profits from rival Shell earlier this week.

In the last two sessions the index fell 2.6% on fears British interest rates will rise next month, choking off consumer spending. Shell’s weak profits added to the weaker tone.

In a busy reporting week, earnings from Anglo-Dutch consumer products giant Unilever will be watched after it cut its top brands growth target earlier this month. Chemicals firm ICI and British American Tobacco also report third quarter earnings.