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.

15 July 2010 Last updated at 21:51
BP says oil has stopped leaking

BP says it has temporarily stopped oil flowing into the Gulf of Mexico from its leaking well.

It is the first time the flow has stopped since an explosion on the Deepwater Horizon rig on 20 April.

The well has been sealed with a cap as part of a test of its integrity that could last up to 48 hours.

BP executive Kent Wells said the oil had been stopped at 1425 local time (1925 GMT) and he was "excited" by the progress.

"It is very good to see no oil go into the Gulf of Mexico," said Mr Wells............

BBC news

Wow ee Clubby in @ 340 50,000 hope for 430 / 450 Friday I had to laugh at guys posting on LSE who say they are going to buy at 8am in the morning there will be none for sale well not at 401

No more oil flows into the gulf....thank god for that.....

Testing not finished yet, it could still fall to pieces. I hope it doesn't!

Got in at 4.08 yesterday..not the best entry time but hopefully the test will go ok and the sp react accordingly.

sold half at 424.95 .... shall now watch for a while

not the rise that some would expect... must admit, thought it would jump more on the news. Chav might have to wait awhile.,.

Clubby well happy today. Not even those thieving/ lying bastards at Goldman S can upset me today.

Hopefully it will move up over the course of the day once the profits have been taken....Yanks closed 8% up last night so shall have to see what they do this Afternoon.

that was after hours and thus after the news, so would imagine already built in ..... the rise equated to about 15p in london this morning

Doing business as usual ...........

BP takes over Verenium's cellulosic biofuels business

BP Biofuels North America is taking over Verenium's cellulosic biofuels business - including its facilities in Jennings and San Diego - for $98.3m.

Verenium will retain its commercial enzyme business including its biofuels enzymes products and the right to develop the business, including for applications in the biofuels segment.

BP Biofuels chief executive Philip New said: "This acquisition demonstrates BP's intent to be a leader in the cellulosic biofuels industry in the US and positions us as one of the few global companies with an integrated end-to-end capability, from R&D through commercialisation to distribution and blending."

FTSE may drag it down a bit today, and of course it is the dreaded Friday. Bin Laden and his boys could strike over the weekend.

Cynic

re - the rise equated to about 15p in london this morning

I am not sure how you can make profitable business, as I see the suppose RISE to be much higher on my calculation, I will explain

(taking round figures )
London close at 401p (0.60% rise )

US close at $38.92 (7.60% rise )

now the US rise 7.60% - 0.60% London = 7% Rise for London this morning

7% rise this morning at 401p = 28p

401p yesterday +28p today = 429p


You were talking about ...... it should be 15p, maybe because the price at the time was that.

On my eyes a disapointing rise

Gap fill in progress. Bears love attacking gaps!

Why are they magnetic??? Because the market knows there's money to be made on them. The prospect of money moves the market. GAPS are an easy win, they hold limited support and resistance within the vacuum.

Watch BP bounce at the bottom of the GAP. Nice trade if you ask me

Not if the rumours that are there are leaks appearing and a fracture in the sea-bed is spewing oil as well now. They'll drop quicker than a whores knickers if its substantiated

FTSE fighting to stay up but afraid it is on way down and sinking fast pulling BP down with it. I hate fuc**** Friday's

MRSI - you are so much cleverer than me, but when london was 401, ADRs were already $37.07 or even a bit higher ... so that equates to + a further 5% at a pinch = 20p in london (so call me a liar), and in fact london opened +24/25

oh, perhaps i'm not so thick after all

nordcaperen ...there's always going to be someone coming up with negative rumours ....so funnies on twitter last night from USA with some suggesting that BP were just manipulating the media and the leak hasn't been stopped at all!!! PLenty of nutters around!

re - MRSI - you are so much cleverer than me,

That could be true I must say, from an early age I was always top of the class on the mats subject

well now see above again and stop being so f'ing arrogant and perhaps go back to school for a refresher