Sep 25, 2020
BP battles to calm investor jitters as shares sink to 25-year low
BP is facing an uphill battle to calm investor jitters after its stock fell to a 25-year low only days after it staked its future on a grand plan for the energy transition. While the shares ticked higher to 234.30p on Friday, they are still down 53 per cent this year. Three investors, speaking on condition of anonymity, said that while BP had spelt out sufficiently what it intended to do, it had not adequately explained how it planned to achieve its goals and what set it apart from rivals. Biraj Borkhataria, analyst at RBC Capital Markets, said BP needed to show investors it can deliver on its pledges. Some observers said longer time was needed to fully gauge investor sentiment.
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