FTSE 100 Maintains Strength for Second Straight Week

Stocks surge for second straight week.

Stocks surge for second straight week.

The FTSE 100 continues its strong ride on BP, Goldman Sachs and British Airways.

BP is in its second day of a successful well oil cap.  The cap is being monitored closely though, as the strength of the pipe from which the oil was gushing will surely be tested.  Any weakness in the pipe due to the added pressure of the new cap, and oil could start leaking immediately.  At opening the stock was surging, up 4.5%

Goldman Sachs ended 3 months of uncertainty, and losses in the agreement were much smaller than industry experts were expecting.  The settlement requires GS employees to go through more training marketing mortgage securities, and to beef up the vetting and approval process.

British Airways is one step closer to a partnership with American Airlines.  They will be coordinating transatlantic flights and sharing revenues.  The EU Commission also approved BA’s merger with Iberia.

The FTSE 100 was up 14 at 5,225.  BP was the volume leader followed by Lloyds GRP, RBS, Barclays and Vodafone GRP, respectively.

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