MARKET TALK: BP Shrs Markedly Lower As US Govt Raises Concerns

19th Jul 2010 09:40

0840 GMT [Dow Jones] BP shares -2.9% to 395p, after US authorities expressed concerns that hydrocarbons could seep from the newly sealed Macondo oil well. "BP seems to have hit another road bump so that's not going to do the space any favors," says one trader. Another says there is also some trepidation ahead of the 2Q results, July 27. UBS says while underlying earnings and cashflows are expected to be good, accounting for the spill is likely to be complex. "The release should allow for a much needed insight into the balance sheet...its liquidity resources and the commitments it faces. The relief well is critical in defining these commitments." ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 19, 2010 04:40 ET (08:40 GMT)