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The FTSE 100 took a dive on Tuesday, falling 0.6% by midday on mixed corporate results and continuing evidence of supply chain pressures.
Oil major BP fell 1.3% to 352.4p after it reported a $2.54 billion third-quarter loss, pinned on 'adverse fair value accounting effects' related to a rise in forward gas prices.
BP's underlying replacement cost profit, however, jumped to $3.3 billion on the back of higher oil and gas prices. The company also unveiled a $1.25 billion share buyback.
Banking group Standard Chartered dropped 6% to 475.7p even as its third-quarter profit more than doubled, thanks to higher income and lower credit impairments.
Standard Chartered's outlook was a little more lacklustre: It continued to expect full-year income to be similar year-on-year, on a constant currency basis.
Gambling play Flutter Entertainment tumbled 7.3% to £13.005 after unfavourable sporting results forced it to downgrade its annual earnings guidance.
Flutter's adjusted earnings expectations for 2021 were lowered to £1.24 billon-to-£1.28 billion, down from previous guidance of £1.27 billion-to-£1.37 billion.
Insurance company Hiscox gained 1.0% to 857.2p on reporting a rise in gross premium revenue in nine months through September as 'strong' rate momentum continued across all business segments.
Hiscox also said it had reserved $110 million for Hurricane Ida, based on an insured market loss of $35 billion, and $40 million for European floods, based on an insured market loss of $9 billion.
Consumer goods group UP Global Sourcing, also known as Ultimate Products, firmed 3.8% to 179.52p as it reported a 14% rise in annual profit, while welcoming a 'structural' pandemic-led shift to home cooking.
Ultimate Products declared a full-year dividend of 5.02p per share, up 27% year-on-year.
Wind farm investor Greencoat UK Wind fell 4.4% to 135p on launching an equity raising to help it fund the £250 million acquisition of a stake in the Burbo Bank Extension offshore wind farm in the UK.
New shares in the company were being offered at 132p each, representing a 6.5% discount to their closing price on Monday.
Inter-dealer broker TP ICAP shed 1.4% to 155p even as it reported a 15% rise in third-quarter revenue, putting it on track to meet guidance for the full year.
TP ICAP said it continued to anticipate full-year revenue, excluding Liquidnet, to be broadly in line with 2020, on a constant currency basis.
Cosmetics outfit Warpaint London jumped 15% to 174.9p, having upgraded its annual profit guidance as sales continue to bounce back following an easing of lockdowns.
Warpaint's adjusted pre-tax profit for the year through December was now expected to be ahead of both the £2.3 million achieved in 2020 and the £5.2 million achieved in 2019.
Clinical AI company Sensyne Health rallied 6.4% to 100p on news that it had received a management buyout proposal led by chief executive and largest shareholder Paul Drayson.
Sensyne Health had appointed J.P. Morgan Cazenove and Peel Hunt to consider the proposal and explore other options, such as other buyer interest or the continued pursuit of a secondary US listing.