BP shares 'still have long-term potential'
Stock market traders should not be put off by the drop in BP’s share price that occurred yesterday (February 2nd).
At least this is the opinion of Graham Spooner of the Share Centre, who advised those looking to use their
private wealth to purchase stocks that the oil giant will still offer returns in the long-term.
The company declined on the FTSE 100 after posting lower-than-expected financial results, but Mr Spooner noted that, prior to the figure being released, BP’s share price had been rising steadily for almost a year.
’BP remains a good investment for income seekers due to its commitment to maintaining the dividend, which is around five per cent,’ he remarked, adding that traders ’shouldn’t panic’ after yesterday’s fall.
The company’s stock was down by around four per cent, but has recovered slightly today.
At 10:23 GMT in London. it was up 4.9p to 576.9p.
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