MARKET TALK: BP Short-Term Outlook Improved - Westhouse

21st Jun 2010 11:06

1006 GMT [Dow Jones] BP's (BP.LN) efforts to capture more oil from the leak in the Gulf of Mexico continue to advance, says Westhouse Securities. Notes the company now has two containment systems in operation, adding that its work on a third containment system remains on track for the end of June or early July. Expects the war of words between partners and sub-contractors on the well to begin to heat up. Reckons this process will eventually wind its way into the courts, where it most likely will drag on for years. While the long-term implications of the spill remain unknown, the brokerage maintains its buy recommendation on the shares, "given the improved short-term outlook following the creation of the $20Bln independent claims facility and ongoing success with containment operations." Shares -5.2% at 339p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 21, 2010 06:06 ET (10:06 GMT)