Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
BP's big profit beat
Despite expectations being elevated by higher oil prices BP (BP.) still managed to beat consensus net income forecasts for the first quarter by 17%.
The oil major fared rather better than its UK peer Royal Dutch Shell (RDSB) which disappointed the market with its own update on trading for the first three months of 2018.
The main negative for both companies was cash flow performance although the market seemed more comfortable with BP, as the company noted outflows relating to the 2010 Gulf of Mexico oil spill had reached their peak level meaning the pressure on cash should reduce going forward.