Investors 'snapping up BP shares from Saga Share Direct'

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www.moneynews.co.uk > General finance > Investors 'snapping up BP shares from Saga Share Direct'

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Investors 'snapping up BP shares from Saga Share Direct'

Saga's share dealing service has been inundated with people looking to invest in BP, it has been revealed.

Ali Crossley, chief operating officer of Saga Personal Finance, said five times more people have been buying BP shares than selling them.

"Whether it is patriotic sentiment or a hard headed look at the long-term value of BP, Saga Share Dealing's customers have been piling into the stock," she commented.

Ms Crossley noted that although the company is currently dealing with a crisis in the US, the general view is that BP is "down but not out".

She added that many British investors believe they are snapping up a long-term bargain by putting their money into the company.

In other Saga news, the organisation's pensions arm last week urged consumers to protect their retirement from the effects of inflation by maintaining the value of their savings.

A spokesperson for the firm suggested that escalating annuities could help provide people with "peace of mind".

Click here for more pensions newsADNFCR-323-ID-19847059-ADNFCR

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