MARKET TALK: BP Climbing Higher; M&A Possibilities In Focus

30th Jun 2010 10:49

0949 GMT [Dow Jones] BP (BP.LN) climbing higher, currently +8.5% at 329p. A trader notes the "fantasy M&A" note by JPMorgan Cazenove, released on Tuesday, citing Exxon Mobil (XOM) and Royal Dutch Shell (RDSB.LN) as possible candidates to launch offers for BP. The brokerage says: "We question why the market is not factoring in the possibility of it ever happening," but the trader feels the market suddenly is. Also notes the general more positive tone in equities versus Tuesday. Adds that Hurricane Alex looks like it will not disturb the Gulf of Mexico clean-up. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 30, 2010 05:49 ET (09:49 GMT)