b.p. europe's third largest oil company's profit drops 19%.u think about about oil heading for its worst year, the question is how resilient is b.p.'s bottom line? and we will talk about the end overp q.e. 3. the fed begin theirs policy meeting later today. investors expecting them to finally wind down their asset program. is the market ready to stand alone? right now the market looking pretty resilient. > ftse 100 futures up. we are expecting a higher open. a down day yesterday. a little bit of a rebound. >> down 6.3% yesterday. banks were the worst performing sector yesterday. falling 1.7%. 37 banks fell yesterday. that's after the release to have e.c.b.'s stress test results. already ftse up by .6%. gains in the nordic countries

b.p. reported 19% quarterly decline in profit this morning. europe'srd biggest oil company increased its dividend to 10 cents a share. meanwhile the oil giant plans to sell more assets. the 2010 gulf of mexico spill may reach 50 billion. roz wns a 20% stake in face a profit risk because of sanctions on russia. they recently lowered their target for brent down 1053. jason b, in your words, i want to get to the b.p. earnings first. is it a surprise? are we just looking at the dropoff from last year? >> it was a pretty good result given the macro environment. it benefits from the fall oil price. it was a strong contributor to the beat we saw. >> can that continue if brent stays around $85 a barrel? can that trend continue where the b.p.'s refining story props up the rest company? >> it could. the business is the overwhelming driver of profitability not just for b.p. but for all integrated oil. the refining business provides a bit of a hedge but if brent stays at 85 it is going to be quite negative for earnings. >> let's talk about the crash in brent. we h