MARKET TALK: BP Positions For Tough Times - Hargreaves

0731 GMT [Dow Jones] BP (BP) is moving aggressively to position itself for the tough times ahead, says Richard Hunter, Head of UK Equities at Hargreaves Lansdown Stockbrokers, while significant challenges remain. "The triple-pronged approach of increased provisions, asset sales and a new CEO should be a potent mix in forming a strong future foundation." The underlying 2Q trading performance is robust with a significant improvement having been made on a like-for-like basis. Shares are -0.1% at 416p and the unknown costs and timing of litigation will continue to be a headwind on further price appreciation, adds Hunter. (peter.nurse@dowjones.com) Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com (END) Dow Jones Newswires July 27, 2010 03:31 ET (07:31 GMT)