The stock market reacted mildly to Tuesday evening’s surprise resignation of BP chief executive Bernard Looney, implying shareholders and analysts believe it will be business as usual under interim chief executive Murray Auchincloss, at least for the time being.

On the London Stock Exchange, the UK supermajor’s share price was down only 0.86% at 518.30 pence at the time of publishing, following news that Looney has quit with immediate effect after failing to disclose past relationships with colleagues to BP’s board.