UK Market News: The UK stock market slipped on Tuesday, with the blue-chip index edged higher as strong results from oil major BP Plc helped counter worries in global markets due to a flare-up in US-China tension. On the other hand, annual house price growth in the UK accelerated to 11% in July, with average house prices now costing £271,209. According to Nationwide Building Society, the house prices increased by 0.1% month-on-month, which is the 12th consecutive monthly increase.
BP Plc (LON: BP.): The share of British oil and gas company, BP Plc jumped by around 3.5%, with a day’s high of GBX 411.10. The company’s second quarter profit soared to a 14-year high of US$8.45 billion as strong refining margins and oil trading helped it boost its dividend and share repurchases.
Travis Perkins Plc (LON: TPK): The share of builders’ merchant and home improvement retailer, Travis Perkins fell by around 9%, with a day’s low of GBX 914.20. The company performed broadly in-line with first-half expectations and said its Toolstation business swung to a loss in the first half of 2022, as the pandemic boost for do-it-yourself projects fell away.