At the auctions at the New York Stock Exchange shares of BP company went up by more than 3%. Reuters reported this has happened after the rumors among the traders about possible merger of BP with the British-Dutch Shell. Shell’s shares went up by 2.5%.
The both companies refused to comment on the rumors.
UpStream reported that BP press office could explain why the company’s shares went up. Other participants of the market did not take information about merger of the companies seriously and added that Shell will hardly agree to make this big purchase when the oil prices are going down.
“It is hard to believe that Shell could make such a big absorption when the oil market is going through difficult times,” said IG analyst Chris Bosham.