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Morning markets wrap: BP shares slip on Looney resignation as Kingspan loses ground

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In Europe, stocks declined on speculation US inflation data may show price pressures remain sticky, adding to risks policymakers will keep interest rates higher for longer

BP has seen its shares fall in morning trading after boss Bernard Looney resigned late on Tuesday after failing to be “fully transparent” in his disclosures about past relationships with colleagues.

Shares in the oil giant fell as much as 1.8 per cent on market opening this morning, but soon pared back declines to stand around 1 per cent lower.

 

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