BP shares rise on FTSE

BP shares rose by 8% today despite the oil giant’s announcement that it will axe dividend payments for the first time since the Second World War.

BP shares rise on FTSE

BP shares rose by 8% today despite the oil giant’s announcement that it will axe dividend payments for the first time since the Second World War.

The group, which has seen its shares halve in value since April, will scrap shareholder payments relating to the first three quarters of 2010 and has also agreed to set up a 20 billion dollar compensation fund.

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