Barclays Wealth banking highlights BP share price rise

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Barclays Wealth banking highlights BP share price rise

BP shares dominated the trades for a period of time this week as a result of positive news from the Gulf of Mexico, a spokesperson from Barclays Wealth banking has stated.

Head of product at Barclays Stockbrokers Paul Inkster explained that the firm's share price went up by 12p to reach 410.35, which led to 23 per cent of trades on the day being in BP.

"Investors found reason for fresh confidence ... as BP reported good progress attaching a cap to the leaking well in the Gulf of Mexico," he noted.

Mr Inkster pointed out that investors were also making transactions relating to Petro Matad and Falkland Oil and Gas.

This month, the same Barclays Wealth banking representative pointed out that the BP share price fell from 324p to 296p on Friday June 25th, but proceeded to move back up to over 330p by the end of the month.

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