BP

Tom Dobell's decision to double his stake in oil giant BP through the Gulf of Mexico disaster has paid off for the £5.85bn M&G Recovery fund manager, with the stake increasing in value by £25m.

The manager of the Murray Income trust is preparing to buy into non-UK assets after shareholders voted to diversify away from concentrated UK sectors earlier this year.

Germany has agreed to give the EU's €440bn (£383bn) bail-out fund permanent status rather than letting it expire in 2013 as planned.

A position in BP has wiped 10% off the dividend growth on the £580m JO Hambro Capital Management UK Equity Income fund for 2010.

BP may resume paying a dividend to shareholders in the first quarter of next year.

The FTSE 100 had a strong start to the week, up 0.71% or 39.14 points to 5,547.59, supported by news BP had permanently sealed its Gulf of Mexico oil well.

Schroders' Andy Brough still sees ‘a lot of value' in stricken oil giant BP, despite admitting the company can never return to its former glory.

BP completed the ‘bottom kill' of its ruptured Gulf of Mexico oil well yesterday, ending one of the most disastrous chapters in US ecological history.

BP's disastrous Gulf of Mexico oil well was permanently sealed yesterday, finishing what was the worst offshore oil spill in US history.

Renowned Legg Mason manager Bill Miller bought a large stake in Transocean at the height of the BP turmoil, believing the owner of the stricken Gulf of Mexico rig got oversold during the crisis.