UK Pensions Affected by BP Price Falls

UK pension funds are unlikely to be overjoyed at today's share market - BP share prices fell to 13-year lows in early trade before recovering slightly. As largescale investors in the troubled oil giant, UK pensions could be hit by possible dividend cuts from the firm.

Anti-British sentiment surrounding BP is apparently growing in the US, and anger around the oil spill disaster in the Gulf of Mexico is a daily emotion for politicians, investors, activists and the man on the street.

With widespread BP share selling on the market, the company's only reaction was that it did not see any reason to justify share price falls...