Income investors in London were hit by another blow this morning as stalwart oil giant BP slashed its quarterly dividend to half the level of a year ago after the sliding oil price led to an underlying loss of $6.7bn in the second quarter. But a bold new strategic plan by chief executive Bernard Looney was well received, leaving the shares up 6 per cent - read Alex Hamer's take on the announcement here. On the wider London market shares opened up in negative territory despite a strong showing overnight from Asia and the US, where the Nasdaq added another 1.5 per cent to set a new record high.
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