Spreadex Market Update
Positive opening for the FTSE
BP was the stock in focus within the FTSE this morning following an announcement that its stake in the TNK-BP oil venture is up for sale which, according to the oil company, has already received indications of interest. However, investors should remain cautious as there are still uncertainties concerning the actual value of BP’s stake and whether this sale will in fact be enough to finally cover the Gulf of Mexico spill costs.
In addition, with a flood of global economic data due out today from both sides of the Atlantic, including the potentially market moving US Non-Farm Employment change this afternoon, traders could quickly find themselves swimming in a sea of volatility with any negative surprises.
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