BP

BP has informed the other shareholder in its joint venture, a group of Russian billionaires known as Alfa Access Renova, of its plans to find a buyer for the stake, according to the BBC.

FMF

Tom Dobell, manager of the £7.8bn M&G Recovery fund, has warned BP it must up its game or risk being snapped up by another oil major.

BP was one of the biggest losers in early trading as investors sold shares in the oil major following a disappointing update.

Oil major BP saw profits fall in the first quarter of the year, led by its downstream business, but has held its dividend at 8 cents per share.

BP has reached agreements with 100,000 individual plaintiffs to resolve claims from the 2010 oil spill - costing the company $7.8bn.

Reports of a 'light sheen' of oil found near production sites in the Gulf of Mexico sent shares in the UK oil majors lower this morning.

James Henderson has managed Henderson Global Investors' UK Equity Income fund since 2005, taking on the mandate after a long spell at the asset manager.

UK dividend growth will disappoint in 2012, undershooting forecasts, investment trust manager Charles Luke has warned.

COMMODITIES