BP shares touch 13-year low as cost concerns weigh

Shares in BP fell to a 13-year low on Tuesday on concerns over the oil major's exposure to costs associated with the massive oil spill in the Gulf of Mexico.

BP extended losses to touch a trough of 332.75 pence, its lowest since late February 1997.

Confidence in the oil giant was further undermined as chief executive Tony Hayward retreated from daily management of the oil spill crisis and dodged a conference appearance.

(Reporting by David Brett)