BP shares slumped to a 14-year low in trading on mounting costs to clean up the Gulf of Mexico oil spill amid concerns the first tropical storm of the Atlantic hurricane season may hamper efforts to halt the leak
The inevitable has happened and BP have announced that they will not be paying a dividend this year. While this may be bad news for existing investors does the company’s fall from grace, and the resulting share price slump, mean it’s a good time to buy BP shares?
A number of today’s papers are running with the story that the plummeting BP share price (down 34% since mid-April) has wiped billions from pension funds across the country. So how has your pension fund been affected?