BP Shares Plunge 8.2% as FTSE 100 Jumps 248 Points on Ceasefire
BP stock dropped 8.2% at the London open as the FTSE 100 surged 248 points to 10,596, driven by miners and airlines after a US-Iran two-week ceasefire. The decline left BP among only five FTSE 100 fallers, suggesting a sector rotation away from energy majors.
1. Market Opening Surge
The FTSE 100 opened at 10,596, up 248 points by 8.12am, as investors cheered a US-Iran two-week ceasefire. Miners and airline-linked stocks led gains, with Antofagasta up 14.5% and Fresnillo up 11%.
2. BP Share Decline
BP shares fell 8.2% at the London open, making it one of only five FTSE 100 stocks in negative territory. Shell also dropped 7.1%, underscoring a sell-off in major energy names despite broader market strength.
3. Sector Rotation Dynamics
Stocks such as Rolls-Royce, Persimmon, IAG and Anglo American each gained over 9%, highlighting a rotation of capital into miners and airlines. This shift reflects investor preference for sectors seen as direct beneficiaries of reduced geopolitical risk.