BP Stock Alerts:
U.K. stocks rose for a second day, led by banks, amid speculation the stress tests for European lenders will be less severe than forecast.
Barclays Plc and Royal Bank of Scotland Group Plc led financial shares higher. J Sainsbury Plc climbed 4.9 percent amid newspaper speculation that the Qatar Investment Authority may be renewing its interest in acquiring the U.K.’s third- largest supermarket owner. BP Plc gained 4.8 percent.(via businessweek.com)
BP surged 4.8 percent to 362.05 pence amid speculation sovereign funds in the Middle East may invest in the oil company. Chief Executive Officer Tony Hayward, who held a meeting with Abu Dhabi’s crown prince today, may seek support from the Middle East after the Gulf of Mexico oil spill eroded BP’s share price by more than 50 percent, according to Saud Masud, the Dubai-based head of Middle East research at UBS AG.
Oil breaks 6-session losing streak with 2.9% rise
Crude oil for August delivery settled up $2.09, or 2.9%, at $74.07 on Wednesday, its first close above $74 in a week. The rise snapped a six-session losing streak that mirrored weak economic data and a similar streak in the U.S. equity market. Natural gas for August delivery fell 2.5%, or about 12 cents, to settle at $4.57 per million British thermal units, on lower-than-expected demand amid a heat wave in the Northeast.(via marketwatch.com)