Bp Share Chat (BP.)

-13

S&P 500 -1.40

FTSE100 Expected to open lower

Indices: Mixed

Commodities: Mostly UP (Oil $74.73)

Shrugs Off Junk-Debt Stigma: Credit Markets

By Bryan Keogh - Sep 9, 2010 4:47 AM GMT

Energy bonds have returned 4.87 percent since July, the most of any industry in the Bank of America Merrill Lynch Global Broad Market Corporate Index. It made gains after underperforming the market in the previous three-month period. BP’s bonds pay an average 2.66 percentage points more than benchmark government debt, close to the relative yield on a typical note with the second-lowest investment-grade rating.

Fitch Ratings lifted BP’s credit grade by three steps yesterday, before the London-based oil company published its internal investigation of the April 20 rig explosion. The report faulted contractors Transocean Ltd. and Halliburton Co. The spill roiled other energy companies’ bonds in the two months that followed, causing them to slump more than the broader market.

“The energy space is back in favor and strongly outperforming” other industries, said Justin D’Ercole, head of the Americas investment-grade syndicate at Barclays Capital in New York.

Improved sentiment about the industry and plunging corporate borrowing costs encouraged energy companies to sell bonds. At least five borrowers were marketing issues yesterday, including Total SA, Europe’s third-biggest oil company; and Hamilton, Bermuda-based Nabors Industries Ltd., the world’s largest onshore oil and natural-gas driller, according to data compiled by Bloomberg.

http://www.bloomberg.com/news/2010-09-08/energy-bonds-outperform-as-bp-shrugs-off-junk-debt-stigma-credit-markets.html

good morning,think raider is correct, bp. taking time to get the money and legal ready in place,and public will be thinking of christmas and move on,love court cases,the corparate lawyers will be retiring after this one,they will blead it dry..........................my rants on eaton boys,,,,,heart goes out to Cameron at this time,,,,,,,,,family first................m8.............GLA.........back to buseness as usual............

Halliburton for Gulf Oil-Spill Disaster

By Joe Carroll and Jim Polson - Sep 9, 2010 6:11 AM GMT

acing billions of dollars in damages and penalties for causing the largest U.S. oil spill, says its investigation shows other companies made mistakes that led to the Gulf of Mexico oil rig explosion.

BP managers had direct involvement in just one of the eight judgment errors and equipment failures that led to the April 20 explosion aboard the Deepwater Horizon drilling rig, according to the company’s internal investigation. The explosion killed 11 workers and spewed crude oil into the Gulf of Mexico for almost three months.

The blame for the other mistakes rests primarily with rig owner Transocean Ltd., contractor Halliburton Co. and Weatherford International Ltd., which provided valves for the well, according to the 234-page report released yesterday after a probe by more than 50 BP engineers, geologists and hired investigators.

“They need to spread the allocation of damages around to others, otherwise BP’s going to be left holding the bag for the whole disaster,” said Robert J. Gordon, an attorney with Weitz & Luxenberg LP, a New York-based firm representing more than 1,000 Gulf Coast fishermen and hoteliers in lawsuits against BP, Transocean and Halliburton. “There are billions of dollars at stake.”

http://www.bloomberg.com/news/2010-09-09/bp-report-shifts-gulf-spill-blame-to-transocean-halliburton.html

Sept 9

LONDON, Sept 9 (Reuters) - Britain's FTSE 100 is seen falling on Thursday, retreating after gains in the previous session, with mining stocks likely to come under pressure as metals prices tumbled in the wake of a Chinese-led sell-off.

Regulatory News 7:01am BST

UK

Total Trade Balance

Actual: 08:30 GMT Consensus: £-4.3B Previous: £-4.2B



Goods Trade Balance

Actual: 08:30 GMT Consensus: £-7.5B Previous: £-7.4B



BoE Interest Rate Decision

Actual: 11:00 GMT Consensus: 0.5% Previous: 0.5%



US

Initial Jobless Claims

Actual: 12:30 GMT Consensus: 470K Previous: 472K



Continuing Jobless Claims

Actual: 12:30 GMT Consensus: 4445K Previous: 4456K



Trade Balance

Actual: 12:30 GMT Consensus: $-48.0B Previous: $-49.9B



EIA Crude Oil Stocks change

Actual: 14:30 GMT Consensus: 0.7M Previous: 3.4M

chan 414/419 bella 410/418 sm 415.31/431.69 me 401/401 ob 395/408 insc 410.7/417.5 lottie 406.5/414.3

good luck everyone !!!!

one last song..

http://www.youtube.com/watch?v=44TRkB9dxvE

good night mate