DJIA and BP plc (LON: BP) have collapsed as CNOOC Limited (Public, NYSE: CEO) is gaining in price

DJIA and BP plc (LON: BP) lost chances for growth

In brief: The Dow Jones Industrial Average is at its lowest this week. BP plc (LON: BP) shares lost in value due to the mixed dynamics in mineral markets and new fines

The Dow Jones Industrial Average continues to trade in negative zone. The Dow Jones index fell to 10,228.30 points, losing -1.80%. BP plc (LON: BP) shares dropped in price down to 386.70 points, falling by 10.90 (-2.74%).

At the same time, CNOOC Limited (Public, NYSE: CEO) shares rose to 170.71 points, gaining +4.21 (2.53%). CNOOC, a Chinese company specializing in oil and gas exploration in the open sea, has published data on doubled profits in the first half of 2010 due to national economic growth’s spurring increased demand and higher oil prices. It is reported that CNOOC’s net profit rose to 25.99 billion yuan ($ 3.8 billion) or 0.58 yuan per share, compared with 12.4 billion yuan or 0.28 yuan per share previous year.

Igor Tringlers
2010-08-19 16:58, Economics.

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2 comments к “DJIA and BP plc (LON: BP) have collapsed as CNOOC Limited (Public, NYSE: CEO) is gaining in price”

  1. zenod Says:

    If BP shares have “collapsed”, then so also have just about all the other oil majors by roughly equal amounts. So it must be a total collapse of civilization as we know it – or maybe not?

    If you look at the minors, JKX seems to have slipped 2.24 percent too – is this the “collapse” of a Ukrainian outfit?

    Oil futures are down, the stocks are down as a result – period. When the demand recovers so will the stocks.

    Sensational headlines make for good press but bad credibility.

  2. Duplicator Says:

    BP is under priced

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