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 FTSE 100 Index finished the session just 1% lower today after a bail-out of the US car industry helped Wall Street markets open on the front foot.

The London market was under pressure today as lower oil prices and concerns over the global economy weighed on sentiment.

Investors went in search of cheap-looking stocks today as the London market regained some confidence at the end of a turbulent week.