UK

BP shares have jumped after the oil giant agreed to pay $18.7bn worth of federal and state claims, to be spread over 18 years, for the Deepwater Horizon oil spill in 2010.

Tesco shares have bounced after the supermarket reported Q1 results it said are a "step in the right direction" ahead of a landmark AGM later today.

UK wealth management firms would see more benefit from an interest rate rise than any other companies in the financial sector, according to research from Liberum Capital.

Liontrust has reported a 45% rise in pre-tax profits for the year to 31 March after taking in £667m in net inflows over the period.

UK equity income managers have been utilising more of their overseas investment budgets as they struggle to find suitable opportunities in the UK.

The London Stock Exchange and Hong Kong's Securities and Futures Commission have reached a deal allowing Hong Kong investors easier and cheaper access to UK-quoted companies than ever before.

A market for stockpickers

Aberdeen Asset Management is to issue £100m of non-voting preference shares to Mitsubishi UFJ Trust and Banking (MUTB) in order to raise money for future fund launches.

F&C has confirmed its sales and distribution businesses are to rebrand as BMO Global Asset Management, as the fund house becomes more closely integrated with its parent firm.