Excerpt from: Stock & Indices
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| July 12, 2010 | | Spread betting and contracts for differences on individual equities | BP stock is getting another boost today in trading as rumours of possible asset sales helps matters. Concerns about a possible bankruptcy due to the cleanup in the Gulf of Mexico are being assuaged by reports that BP is ready to sell some assets.
The company's stock plummeted after the Deepwater Horizon oil rig exploded in April. However, a recovery has since been underway, with the stock rising 27% since then. The latest news is helping boost BP stock further, although it is still down from what it was prior to the oil spill.
BP is reported to be considering selling Prudhoe Bay in Alaska, and there are reports suggesting that Chevron and ExxonMobil might both be interested in bidding on BP.
The FTSE 100 is higher today, and U.S. stocks have moved into the black in early trading as investors look forward to earnings season, and as they consider what could become of BP.
| Topic Tags: BP, contracts for differences, FTSE 100, Gulf of Mexico, individual equities, oil spill, spread bets, spread betting | |
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