BP gains, traders cite Exxon bid talk


LONDON (Reuters) – Shares in BP (BP.L) gained on Friday, with traders citing talk that Exxon Mobil (XOM.N) was considering a bid for the oil company.

By 10:29 a.m. EDT, BP shares were up 1.1 percent at 450 pence, having hit an intraday high of 451.35 pence on the rumor.

BP declined to comment and a spokesman for Exxon said in an email that it was “not our practice to comment on market speculation, rumors or media reports.”

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Stuart H. Smith is an attorney based in New Orleans fighting major oil companies and other polluters.
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