In presentation Wednesday, Chief Executive Officer Murray Auchincloss reversed a plan to shrink oil and gas production and said BP would cut investments in low-carbon energy. He also unveiled a plan to sell about $20 billion of assets by the end of 2027.

Britain's FTSE 100 fell from all-time highs on Tuesday, while the midcap index posted its worst day of 2025 as growing trade tensions between the United States and its main trading partners hammered global sentiment.

The rise came after a summit in London where the UK and France announced a ‘coalition of the willing’ in an effort to secure peace in Ukraine.

French, Italian and Spanish bond yields are also dropping by more than five basis points as investors shun riskier assets and look for safer investments. In the UK, gilt yields are also lower, though to a slightly lesser degree. The benchmark 10-year gilt yield is down 4 basis points.

The FTSE 100 opened at a fresh record high on Monday as a tumultuous weekend for geopolitics sparked a significant rally in defence stocks.