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Essar Energy FY profits jump, shares dip

Shares in Essar Energy were down on the FTSE 100 in morning trading, despite the Indian energy company reporting a rise in pre-tax profit in the full year ended 31 December.
A British Petroleum logo is seen reflected in a car mirror at a petrol station in south London

BP share price up on FTSE 100 as oil spill costs reach $11.2 billion

Shares in BP were up on the FTSE 100 in afternoon trading after the oil giant said it had pledged some of its Gulf of Mexico assets as collateral for the $20 billion Deepwaater Horizon Oil Spill Trust, which pays out compensation claims to those affected by this year's disaster at the oil well.