BP sitting on a liability

Although last week’s ruling in the US court of appeal was a positive for BP there remains considerable uncertainty about the scale of its eventual liabilities from the Gulf of Mexico disaster.  Until these are clarified an attractive valuation should be ignored, particularly given the risk of a dividend cut.

|Under The Bonnet
Issue: 10 Oct 2013 - Page 20

Issue: 10 Oct 2013 - Page 20 |