BG Group tumbles 19% as outlook spooks investors

Shares in BG Group have slumped 19% this morning after the oil and gas giant said it does not expect any production growth next year.

BG Group said in its Q3 results that delays on several projects across the world means production growth, estimated to come in at 3% this year, will stall in 2013. The group's third quarter earnings rose 16% to $1.2bn but investors took fright at the group's guidance comments, sending shares down 19% to £10.71 shortly before midday. It is the lowest price the stock has traded at for two years. Seymour Pierce analyst Sam Wahab said investors may be better seeking opportunities elsewhere. "In view of BP's consensus beating Q3 results this week, the market may see their shares as r...