MARKET TALK: BP Cap Installation Obvious Positive - Dolmen

13th Jul 2010 10:11

0911 GMT [Dow Jones] BP's (BP.LN) successful installation of a new containment cap on the Macondo well is an obvious positive for the company, says Dolmen Securities. Notes that up until recently it was believed that the eventual solution to the leak would come in the form of a relief well due to be completed in early August. Says: "Closing the well early will result in the reduction of cost estimates for the disaster and will also allow BP investors to look beyond the disaster." Continues to rate the stock at buy with 500p price target. Shares +1.7% at 406p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 13, 2010 05:11 ET (09:11 GMT)