MARKET TALK: BP Fund Should Offer Reassurance - C Stanley
17th Jun 2010 11:40
1040 GMT [Dow Jones] BP's (BP.LN) establishment of a $20B escrow account for oil spill compensation claims is a positive step forward, says Charles Stanley. It may dissipate some of the political anger that has damaged BP's debt and equity rating. Adds the size of the fund and its independent admini
Read moreUPDATE: BP Shares Surge After $20B Oil Spill Fund Deal
17th Jun 2010 11:26
(Updates throughout with analyst comment.) By James Herron Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Shares in U.K.-listed oil giant BP PLC (BP.LN) jumped as much as 9.8% in London Thursday morning after the company struck a deal with the Obama administration a day earlier to set aside
Read moreBEFORE THE BELL: US Stock Futures Up On Spain Bond Auction
17th Jun 2010 11:02
By Steve Goldstein U.S. stock futures rose Thursday as a largely successful Spanish bond auction helped cap worries over the euro while a flurry of U.S. economic data was on tap. Futures on the Dow Jones Industrial Average rose 42 points to 10386. S&P 500 futures rose 4.6 points to 1114.20
Read moreMARKET TALK: BP's $20B Oil Spill Deal Is Pragmatic - Citi
17th Jun 2010 10:35
0935 GMT [Dow Jones] BP's (BP) deal with the Obama administration Wednesday to set up a $20Bln oil liability fund is a pragmatic and conservative approach to the company's woes, says Citigroup. "With net debt around $25Bln and estimated gross cashflow in excess of $70Bln in the 2011-2012 period, we
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
17th Jun 2010 10:35
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0935 GMT [Dow Jones] BP's (BP) deal with the Obama administration Wednesday to set up a $20Bln oil liability fund is a pra
Read moreMARKET TALK: HansonWesthouse Upgrades BP To Buy
17th Jun 2010 10:32
0932 GMT [Dow Jones] HansonWesthouse upgrades BP (BP) to buy from hold after the company dealt with near-term uncertainty over the cost of the Gulf of Mexico oil spill. The establishment of a $20 billion oil spill fund, "will alleviate much of the political pressure that has been building in the US.
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
17th Jun 2010 10:32
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0932 GMT [Dow Jones] HansonWesthouse upgrades BP (BP) to buy from hold after the company dealt with near-term uncertainty
Read moreSonatrach Sends Pollution Barriers To Help Counter BP Spill
17th Jun 2010 10:22
LONDON (Dow Jones)--Sonatrach Wednesday sent floating anti-pollution barriers to protect the U.S. Gulf coast at the request of BP PLC (BP), the Algerian state oil company said in a statement. Sonatrach is one of several companies helping the U.K. oil giant to contain the impact of a massive spil
Read moreMARKET TALK: Westhouse Securities Raises BP To Buy Vs Hold
17th Jun 2010 10:15
0915 GMT [Dow Jones] Westhouse Securities upgrades BP (BP.LN) to buy from hold. Says this reflects the actions put into motion by the company Wednesday to address a significant portion of the near-term uncertainty regarding the impact of the oil spill on the company. Adds that the establishment of t
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
17th Jun 2010 10:15
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0915 GMT [Dow Jones] Westhouse Securities upgrades BP (BP.LN) to buy from hold. Says this reflects the actions put into mo
Read moreMARKET TALK: BP's New Shackles Are Being Taken Positively
17th Jun 2010 09:59
0859 GMT [Dow Jones] BP (BP.LN) +7.9% at 366, at the top of the FTSE 100 after the company agreed to set up a $20B escrow account to pay for claims related to the oil spill and suspend its dividend. "On the whole, these developments are a positive for BP as they add some certainty to a situation tha
Read moreUK MARKET TALK ROUNDUP: SHARES GAINING
17th Jun 2010 09:41
Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0841 GMT [Dow Jones] Collins Stewart upgrades BP (BP.LN) to buy from hold. Says the setting up of a $20B claims response f
Read moreMARKET TALK: Collins Stewart Upgrades BP To Buy From Hold
17th Jun 2010 09:41
0841 GMT [Dow Jones] Collins Stewart upgrades BP (BP.LN) to buy from hold. Says the setting up of a $20B claims response fund and the cancelling of the dividend have clarified two of the most important issues which have been overhanging the shares. Adds some investors may prefer not to hold BP at al
Read moreCredit Markets React Positively To BP's $20B Spill Fund News
17th Jun 2010 09:01
LONDON (Dow Jones)--Credit markets reacted positively to the news that BP PLC (BP.LN) will set aside $20 billion to cover claims relating to its oil spill in the Gulf of Mexico, with the cost of insuring the company's bonds falling sharply early Thursday. The annual cost of insuring $10 million
Read more"Strong" BP Has Resources For US Pay-outs - UK's Osborne
17th Jun 2010 08:47
LONDON (AFP)--Oil major BP PLC (BP.LN) is a "very strong company" and has the resources to cover the costs of the Gulf of Mexico oil spill, U.K. Chancellor of the Exchequer George Osborne said Thursday. "BP in the end is a very strong company," Osborne told BBC radio, when asked about the 20-bil
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