LONDON, Sept 5 Shares in BP extended
losses on Friday, with the stock remaining impacted by a U.S.
judge's decision that the oil major was 'grossly negligent' and
'reckless' over a 2010 Gulf of Mexico oil spill.
BP's shares were down by 0.5 percent in early session
trading, adding to a 5.9 percent slump on Thursday.
BP said it would appeal Thursday's ruling by U.S. District
Judge Carl Barbier in New Orleans, Louisiana.
However, some analysts said the court ruling would add an
element of uncertainty over the company's financial prospects,
due to the risk of more fines and legal costs.
"Judge Barbier's ruling that BP was grossly negligent with
respect to the Deepwater Horizon accident and that its
activities at the Macondo well amounted to wilful misconduct
does come as a surprise and is close to the worst case scenario
we could envisage for the stock," Barclays analysts wrote in a
(Reporting by Sudip Kar-Gupta; Editing by Kate Holton)