oil

UK oil leviathan BP today announced its first dividend hike since it resumed payouts a year ago, after revealing profits had soared in the fourth quarter of 2011.

UK stocks were muted mid-morning as investors took profits and fretted once more over the outlook for Europe and the Greek debt deal.

John Dodd and Richard Hulf, managers of the £84m Artemis Global Energy fund, are reducing exposure to eurozone-domiciled assets as they refine their approach to stock selection.

Brazil became the world's sixth largest economy in 2011, overtaking the UK, after continuing to see breakneck growth while the UK economy stuttered.

With equity markets around the world diving in the latter half of the year amid the turmoil in Europe and global growth fears, a number of funds were hit particularly hard.

Goldman Sachs' global markets team has revealed six key trading recommendations for 2012, based on forecasts of a deeper recession in Europe, a slowdown in the US and below trend growth in China.

Energy stocks could see up to 50% upside over the next three years, according to Guinness Asset Management's Tim Guinness, supported by the high price of oil.

The price of West Texas Intermediate (WTI) crude hit a near-four month high this afternoon after rising shortly before US equity markets opened.

More than a third of investors believe commodities will produce the best returns over the next 12 months compared to other assets. Managers reveal where the best value lies.

BG Group has reported a 17% increase in operating profit in the third quarter as higher commodity prices offset lower output in the UK.