BP shares rising, up 1.2 per cent in London, in wake of oil spill fund deal

The Associated Press ~ staff The News
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LONDON — BP shares are higher in London, continuing a rally that followed the oil company’s agreement to set up a US$20 billion fund to cover damage from the oil leak in the Gulf of Mexico.

BP shares were up 1.2 per cent to 364 pence ($5.41) in early trading Friday on the London Stock Exchange.

The shares had risen 6.7 per cent on Thursday, a day after the meeting with President Barack Obama in which BP executives agreed to set up the fund and suspend dividend payments.

Organizations: BP, London Stock Exchange

Geographic location: London, Gulf of Mexico

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