MARKET TALK: BP Rises To Top Of FTSE 100 After Torrid Week

11th Jun 2010 08:51

0751 GMT [Dow Jones] BP (BP) +5.3% at 385.0p, climbing to the top of the FTSE 100, after the shares have lost about 12% this week alone. Sam Wright at Spreadex says the speculators are pausing for breath, despite the US government doubling its estimate of the Gulf oil spill. Another London-based trader says the market has now realized it has mispriced the risk of BP defaulting and it is highly unlikely the end of the company is nigh. Also detects that the politicizing of the saga is now wearing thin. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 11, 2010 03:51 ET (07:51 GMT)