Essay: Decline in Value of BP Stock
The stock remained high at the start of 2007 on the back of good results from the products market. However, it experienced the decline around June 2007 in part due to the announcement of an EU inquiry deadline for BP, Associated British Foods and Dupont over a joint venture biofuel plant in the UK.
This was augmented by the credit crunch taking its toll on the company operations as well. It also got hit by the devaluation in the sterling which hit earnings. One estimate was 19 million sterling lost by the decline in value. However the price started to pick up on account of higher than expected earnings announcement which persisted through November and December of 2008. A sudden dip came in mid January on the expectation of EU sugar reforms which was crucial for the company. Then stocks recovered and remained steady until a decline came with news of the company merging Ryvita with Jordan.
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