Maitland/AMO Morning Monitor – Friday 4 October 2019

4th October 2019

What really matters... COVID-19

The FTSE, CAC and DAX are all expected to open up this morning.

In Asia, the Hang Seng index in Hong Kong slipped 0.54% by the afternoon, amid reports that the city’s government is set to discuss potential emergency regulation to ban face masks in protests. The Nikkei 225 recovered from an earlier slip to rise 0.1% in afternoon trade, while the Topix index also made a turnaround as it advanced 0.1%.

Stock market moves

In other news

  • Ireland fears loss of business and insecurity after Johnson’s new customs checks proposal
  • UK and US sign first ever bilateral agreement giving access to terrorist data
  • Top US diplomat in Ukraine claims US officials pressured Kiev into helping Trump investigate Joe Biden

Politics today

  • Boris Johnson is expected to meet Angela Merkel in Berlin for talks on Brexit
  • Plaid Cymru’s Annual Conference commences in Swansea
  • The Green Party commences its Autumn Conference in Newport

Corporate announcements

* Maitland Client

BP PLC BP CEO Dudley to retire, Bernard Looney succeeds
  • The CEO of BP, Bob Dudley, after a 40-year career with BP and over nine years as group CEO, will step down as CEO and from the BP Board following delivery of the company’s 2019 full year results on 4 February 2020 and will retire on 31 March 2020.
  • Bernard Looney, currently CEO, Upstream, will succeed Dudley as group CEO and join the BP Board on 5 February 2020. Looney will continue in his current role until this date.
  • Bob Dudley, CEO, said: “It has been the privilege of a lifetime to serve this company and work in this industry for the past four decades. I have worked with so many committed people from all over the world – both inside and outside BP – and I am enormously proud of all the things we have achieved together to provide energy for the world. Bernard is a terrific choice to lead the company next. He knows BP and our industry as well as anyone but is creative and not bound by traditional ways of working. I have no doubt that he will thoughtfully lead BP through the transition to a low carbon future.”