MARKET TALK: CDS On BP Start To Pull In On Escrow News

16th Jun 2010 17:55

1649 GMT [Dow Jones] Credit default swaps on BP have started to tighten, after hitting fresh wides, on report the company has agreed to put $20 billion in escrow for future oil spill claims. CDS on the UK oil giant were quoted as high as 625 BP, equivalent to $625,000 per year to cover $10M of BP debt for five years, but then improved to 585 BP and again to 565 BP. The tentative agreement for the escrow account was viewed as sorely needed certainty and shares are up on the day. ([email protected]) Contact us in New York. Darlene Ross, 212 416-2166; [email protected] (END) Dow Jones Newswires June 16, 2010 12:55 ET (16:55 GMT)

Top Risers

Share	Price	Change
Itim Grou (ITIM)	27.50	34.15%
Getech Grp (GTC)	4.35	14.47%
Pulsar Group (PULS)	20.00	14.29%
Forgent (FORG)	0.0085	13.33%
Fonix (FNX)	191.50	11.99%

Top Fallers

Share	Price	Change
Sunda Energy (SNDA)	1.55	-43.64%
Mothercare (MTC)	0.11	-38.89%
Petro Matad (MATD)	0.90	-25.31%
Skinbiotherap. (SBTX)	6.25	-16.67%
Beowulf Mining PLC (BEM)	6.50	-10.34%

Top By Volume

Share	Price	Volume
Forgent (FORG)	0.0085	390,126,650
Premier African Minerals (PREM)	0.00625	345,733,280
Buccaneer Ergy (BUCE)	0.012	270,299,479
Nativo Resources (NTVO)	0.39	242,388,256
Tower Resources (TRP)	0.0135	143,875,300

All prices are delayed by at least 15 minutes. Share Compare cannot be held responsible for the accuracy of share prices shown on this website, and investors should be aware that share prices can go down as well as up. Share Compare does not offer advice, and is not regulated by the Financial Conduct Authority.