UK Stockmarket 2009 and beyond

tradetime

Yeah, not quite sure how the US share price and the UK share price line up, I guess it's a function of exchange rates and market cap of the two listings, but on a pure non adjusted basis, BP on the NYSE is trading just below it's closing price of July 17th, in the UK at the time, that was in the 490's Will be interesting to see where it opens tomorrow. in London.
Pre spill in the US looks to be around $60, currently around $48 and change, so a $12 fall or 20% so far give or take a couple of %

Currently Bloomberg are reporting BP share price has lost $38 billion so far. (Quick calculation suggests at the pre-spill price in the $60 area BP was a $187.8 billion company, currently it is $150.7 billion, which seems to add up.)

tradetime

StevieJ wrote: »

I make that [STRIKE]nearly[/STRIKE] over 30% down from peak, this really is a falling knife situation.

I take it you're not tempted Stevie? Can't say I blame you, punting on this at the moment is extremely speculative.

StevieJ

tradetime wrote: »

Yeah, not quite sure how the US share price and the UK share price line up, I guess it's a function of exchange rates and market cap of the two listings, but on a pure non adjusted basis, BP on the NYSE is trading just below it's closing price of July 17th, in the UK at the time, that was in the 490's Will be interesting to see where it opens tomorrow. in London.
Pre spill in the US looks to be around $60, currently around $48 and change, so a $12 fall or 20% so far give or take a couple of %

Currently Bloomberg are reporting BP share price has lost $38 billion so far

On one MF thread they putting up a possible FIB retracement to £3.50/3.60 what do you chartists think about that?

http://boards.fool.co.uk/Message.asp?mid=11911485&sort=whole#11911965

StevieJ

tradetime wrote: »

I take it you're not tempted Stevie? Can't say I blame you, punting on this at the moment is extremely speculative.

As (I think you mentioned earlier) these are real costs, with no known top end not to mention the reputation, I prefer the sentiment or cyclical plays. BTW you are correct 22% not 30% as I stated but bad enough.

tradetime

StevieJ wrote: »

On one MF thread they putting up a possible FIB retracement to £3.50/3.60 what do you chartists think about that?

http://boards.fool.co.uk/Message.asp?mid=11911485&sort=whole#11911965

In this sort of scenario I am not sure that technical trading tools really provide a basis for taking a position, or working out where the stock is likely to go. Where BP ends up will be a function of fundamentals, ie: how much this all costs. Where you have such powerful fundamental news, that can be isolated and directed at a single stock reliance on technicals imho would be dangerous. I wouldn't like to try and make a technical case for any price level in a situation like this. Though I am prepared to punt on the fact that a market tends to over react since it is only in an ISA.

cloud_dog

I dipped a toe on Friday (575) and might consider adding to my position depending on what happens over the pond today.

sabretoothtigger

BP Says It 'Significantly' Cut Flow Of Oil From Damaged Rig -Report
DOW JONES NEWSWIRES

BP PLC (BP, BP.LN) said Monday that it had significantly reduced the flow of oil from the damaged Deepwater Horizon rig in the Gulf of Mexico, the Press-Register of Mobile, Ala., reports on its website. "We've significantly cut the flow through the pipe," BP official Jeff Childs said at a briefing hosted by U.S. Sen. Richard Shelby (R, Ala.). Childs said the company shut a set of hydraulic devices called annualar rams, which clamped the rig's broken pipe, and it's still attempting to seal the well by shearing off the drill pipe.

In another report, the Press-Register cites experts as saying that heavy rain has helped disperse the oil slick and could possibly reduce its impact on the local ecosystem. "The weather is helping us. It is breaking up and dispersing the plume" of oil, said Bruce Freeman, an official with the Alabama Department of Environmental Management. The severe weather has also, however, hampered efforts to place booms along the shore.

Websites: http://blog.al.com/live/2010/05/bp_official_weve_significantly.html

http://blog.al.com/live/2010/05/experts_rain_is_helping_to_dis.html

-Dow Jones Newswires; 212-416-2900

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=meLu5QdJ7sSblCT3E4EXbA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

May 03, 2010 15:21 ET (19:21 GMT)

This might explain some of the price recovery today


500 would be a good target or below is an old trend of 490. Any less I think is unlikely without drops in oil price or a second wave of selling

lvader

BP dipped again after Argus downgraded the share to hold, I might buy some more tomorrow depending on the London price.

1echidna

BP says U.S. Gulf leak flow rate unchanged
03 May 2010 19:35:40 GMT
Source: Reuters

HOUSTON, May 3 (Reuters) - The flow rate of the oil leak in the U.S. Gulf of Mexico remains unchanged, a BP <BP.L> spokesman said on Monday. Spokesman David Nicholas said the rate was unchanged in response to an inquiry about another BP official, Jeff Childs, saying in an interview with an Alabama television station that the flow rate had been "significantly" cut. "Our observations indicate no change at all, the flowrate is unchanged," Nicholas said. (Reporting by Kristen Hays and Joshua Schneyer; Editing by David Gregorio)

AlertNet news is provided by
http://www.alertnet.org/thenews/newsdesk/N03225684.htm

This report on unchanged flowrate may have had an influence too.

lvader

Interesting, I guess BP have been told to stop talking about flow rates while the leak is still going on. Jeff Childs the person in the intial report is the night-time incident commander, basically the guy on site running the show, it's unlikely that anyone at BP would be more informed than him on the situation. A bit like a ref sending a players off and the FA saying it didn't happen.