Friday, August 6, 2010

BP (NYSE:BP) Stock Prices Rise While Energy Stocks Decline

There is a sense of much relief that BP (NYSE:BP) is seeing success in their static kill attempt, causing stock prices to continue to rise. While energy stocks are on the decline.

BP's shares rose another 0.7 percent to $40.95, after the completion of the cementing of the Macondo well. After drawing a downgrade from J.P. Morgan, Transocean plummeted 3 percent to %56.34, after soaring 8 percent in the prior session.

Crude oil futures slide 1.2 percent to $80.98.
The Dow Jones Industrial Average dropped 0.7 percent. With Exxon and Chevron decreasing 0.8 percent and 0.6 percent.

The NYSE Arca Oil Index dropped 0.9 percent to 1,020. The Philadelphia Oil Service Index fell 1.4 percent to 188. The NYSE Arca Natural Gas Index also saw a decrease of 1.4 percent bringing it to 531.

2 comments:

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