The FTSE 100 failed to respond to broker upgrades and healthy earnings reports in early trading, advancing only six points, or 0.1%, to 5,562.37 points.
The cost to BP of cleaning up the Gulf of Mexico oil spill has hit $8bn (£5bn).
M&G's Tom Dobell has boosted BP to the largest position in his £5.35bn Recovery fund, believing its recent decline represents a rare opportunity to invest in one of the UK's leading companies.
Tineke Frikkee, manager of the £2.52bn Newton Higher Income fund, expects BP to resume dividend payments as early as February next year.