US & World News

Action BP lost nearly 7% Wednesday to the London Stock Exchange after falling to its lowest level in 14 years, investors feared that the British oil giant is forced to raise more funds to finance the cost of oil spill that pollutes the Gulf of Mexico.

BP said it had already spent $ 2.35 billion (1.92 billion euros) to contain the spill.

Meanwhile, five-year CDS BP, financial instruments used by investors to hedge against default risk on the group's debt rose 19 basis points to 555 points, according to Markit data.

Some traders also explain the fall in BP by bad weather looming over the Gulf of Mexico that could complicate the fight against oil spills.

At 9.45 am GMT, BP lost 6.55% to 303 pence in London Stock Exchange.

• BP has already spent $ 1.25 billion against the oil spill
• European shares rose after the plan for Greece
• The Tokyo Stock Exchange closed up 0.53%
• European shares open down, Paris in 3000 pts
• Third day of excitement in the markets

This entry was posted on Friday, June 25th, 2010 at 6:25 am and is filed under blog, different, profitable, tidings, work. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.