BP plc (LON: BP) climbs unexpectedly as Ford Motor Company (NYSE: F) falls in a ditch

BP plc climbs higher as the Ford Motor Company shares lose value

In brief: BP plc (LON: BP) shares dived out of the red swamp and started rising. Ford Motor Company (NYSE: F) continues to bargain in the red against the background of a bearish trend.

Ford Motor Company (NYSE: F) slipped to 11.74 points, losing -0.15 (-1.26%). Analysts’ expectations of car industry recovery failed. At the same time, BP plc (LON: BP) shares suddenly began to rise.

BP plc is close to 388.35 points, gaining +1.65 (0.43%) in the second half of trading. It must be remembered that the British BP oil company is in process of drawing two syndicated loans totaling $ 5 billion for a period of 5 years. The deal involves British Royal Bank of Scotland and Standard Chartered, as well as the French Societe Generale and BNP Paribas. The loans will help restore stable financial situation in the company affected by heavy losses as a result of the accident on the offshore platform in the Gulf of Mexico.

Elena Koschiko
2010-08-20 17:37, Economics.

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