Yes remember you all got it here first!
The British Government are holding clandestine talks with BP officials in an effort to assist in the retention of the dividend. Sources here are saying that several tracks are being discussed. Not least the USA demand for a complete scrapping of the eagerly awaited divi’. Another line of investigation is a reduced dividend with the reduction paid directly to the USA authorities for the clean up bill they’re also contemplating a suspension of the dividend or Government backed guarantees for the USA! Hoping this will placate our cousins across the pond! Unfortunately for the UK the bellicose talk currently sweeping the USA may mean that Obama will have to face down Cameron this weekend. Obama is thought to be getting leant on from capitol hill to pursue BP through all means legal and otherwise!
Mean-while over here Ministers of the Crown are being lambasted by ALL the leading pension funds over their lack of open support for one of the UK’s leading lights! Telephone lines are said to be ‘congested” what with many a fund using all at their disposal to get their point across. Yes the lights are burning through out Whitehall
My best source is expecting that the Dividend will be curtailed with guarantees until the cock-up is sorted.
The shorters are having a field day with the stock; current thinking being that there’s quite some way to go before BP hit rock bottom.
Expect BP to drop below 300p very soon!
Get your shorts on!