MARKET TALK: BP CDS Still Unmoved At The Close

2118 GMT [Dow Jones] Credit default swaps on BP looked relatively rosy at the close in NY Thu, trading at 470 basis points, according to Markit--144BP better than Wed's close. That's despite criticisms of BP CEO Tony Hayward's performance at a regulatory grilling on Capitol Hill and a downgrade by Standard & Poor's to A from AA-. CDS on BP will likely widen at the open Fri morning, since BP CDS are mostly traded out of London. Meanwhile, Deepwater Horizon-related oil and gas credits reacted to the S&P news, with CDS on Anadarko Petroleum Corp. widening 6bps on where it was before the announcement and Halliburton widening 7bps. (katy.burne@dowjones.com) (END) Dow Jones Newswires June 17, 2010 17:18 ET (21:18 GMT)