The oil rig disaster in the Gulf of Mexico has damaged BP's reputation will they manage to avoid a share collapse to 350p.?



472p to buy this morning.

BP to change it name to AMECO.

Closed part @ 420 for a few.

Interesting news

Clubby is in

Oh Shit.

ClubbyI thought youd had enough of oil for today

in that case i'm even more glad i'm now out (about 423)!
it's proved to be a very good trading stock over recent weeks

Still in for the 5+

BP has claimed success in plugging its catastrophic oil leak as President Barack Obama said the battle to stop the Gulf of Mexico spill was "finally close to coming to an end".
Mr Obama said lives had been "turned upside down" because of the spill, but said he was heartened by indications it was being brought under control.
He spoke as BP said its "static kill" operation to shut off the flow of oil by pumping heavy mud into the well had gone as hoped in a "significant milestone" for the crisis.
White House energy adviser Carol Browner said a new assessment found that about three quarters of the oil has either been captured, burned off, evaporated or broken down chemically. "It was captured. It was skimmed. It was burned. It was contained. Mother Nature did her part," she said.

The achievement marks the first stage in bringing to an end the worst spill in US history, which saw an estimated 4.9 million barrels leak into the Gulf.
Panmure Gordon oil analyst Peter Hitchens said: "This is very good news for the company as this would imply that it has at last stopped the well."
BP will closely monitor the well to see if more mud needs to be pumped in, and plans to add in cement if the pressure remains controlled.
The company temporarily sealed the well after a tightly-fitting cap was placed over it two weeks ago. This stopped oil gushing into the Gulf for the first time since the leak erupted on April 20, when the Deepwater Horizon oil rig exploded and sank, killing 11 workers.
BP said the so-called static kill will pave the way for permanent closure of the well, which will be achieved using two relief wells. The group began the relief wells days after the disaster struck.
They are expected to be completed by mid-August, when they will be used to pump further cement and mud into the well in a final phase of the operation.

$40.08 at london close ...... currently surprisingly down a bit at $39.45 ...... and closed $39.38

Climbing nicely again this morning...and no reason why it shouldn't continue!

and i'm back in again albeit 5/6p higher than where i got out, but if sp keeps climbing now, should i care

Cynic...when buying stock with a CFD, is there a daily charge till you sell them?

no, they're completely open-ended too ..... i sold merely as a precaution and to lock in some profit .... up to now, i have been using BP solely as a trading stock, but as things seem to be crystalising, a bit of longer term confidence may return, and the wild swings pretty much eliminated

Thanks...I've used IG on the Index's but not for Stocks so wasn't sure how it went...may have a dabble with DES/RKH and reduce my CGT which is looking costly at the moment.

chav - not sure what cfd provider cynic is using, but cfds are usually margined and so there's an overnight interest charge debited from your account for long positions with most providers - meaning there usually is a daily charge in holding.

Similarly, overnight interest is usually credited to your account for short positions.

The other thing to be aware of with CFDs is divvies - when you're short on the day a share goes ex you usually have to pay the divvy - if you're long you get a percentage of the divvy credited to your account (such percentage usually open to negotiation when you open the account with the provider).

Gausie...thanks...The Divi's wouldn't be a problem as I hold those sorts of shares with cash and only thinking about trying CFD's for some short term trading.

What rate of over night interest charge would be average...I would be using IG myself.

chav - rates are negotiable (although providers will initially tell you they're not). You're best to negotiate on long/short interest rates, divvy percentages paid, and commission (in base points) - these will be dependant on the level of trading you expect to do.

ok Gausie..thanks again

Loosing ground this afternoon as the futures are not so rosy as earlier
from reaching ADR's $41.10 are now $40.42, here 434.50 to now 424.45p

Below how the Indicators and Bollinger Bands are on the day order on the chart:
MACD, RSI, Williams, Momentum