BP gains, traders cite Exxon bid talk

LONDON (BestGrowthStock) – 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.”

(Reporting by Ruppert Pretterklieber, Joanne Frearson, Simon Jessop, Anna Driver and Simon Falush)

BP gains, traders cite Exxon bid talk