BP shares soared 7% to a six-month high on the FTSE 100 yesterday as compensation payouts for its spill in the Gulf of Mexico looked set to be lower than expected.
J.P. Morgan is considering the launch of a global mining fund for resources manager Ian Henderson in the first quarter of next year.
Hedge fund titan David Einhorn expects the price of gold to continue its strong surge as the US authorities retain irregular monetary and fiscal policies.
BP is set to halve its previous £6bn annual dividend when it reinstates payouts early next year.
Gold catapulted to a new high yesterday charging above $1,3000 an ounce for the first ever time.
Neil Gregson has joined J.P. Morgan's global equities team as a portfolio manager.
Embattled BP chief executive Tony Hayward is expected to resign tomorrow as the oil giant attempts to rebound from the Gulf of Mexico oil disaster.
Managers expect the gold price to rebound back to all-time highs in the current uncertain environment, despite the dip seen over the past month.