BP Q4 Underlying RC Profit Tops Market, Plans Share Buybacks; Stock Up

Shares of BP Plc were gaining around 6 percent in the morning trading on the London Stock Exchange as well as in pre-market activity on the NYSE after the British energy major reported Tuesday fourth-quarter underlying replacement cost or RC profit above market estimates. On a reported basis, RC profit and net profit were sharply lower than last year as revenues were hit mainly by lower production

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