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Originally published July 12, 2010 at 10:00 AM | Page modified July 12, 2010 at 11:35 AM

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BP shares jump nearly 8 percent

BP shares are surging as the company gets closer to containing the Gulf oil spill. The company also says it is in talks on the sale of company assets.

The Associated Press

NEW YORK —

BP shares are surging as the company gets closer to containing the Gulf oil spill. The company also says it is in talks on the sale of company assets.

BP shares added $2.58, about 7.6 percent, at $36.63 in afternoon trading.

Investors are returning to BP as the company plans to fasten a new cap that could contain the oil leaking into the sea. Analysts also said investors are heartened by reports that BP is in talks to raise money by selling some of its assets.

BP spokesman Andrew Gowers told The Associated Press the company is talking to potential buyers regarding company assets, but the company itself isn't up for sale. BP previously announced that it planned to sell assets worth $10 billion over the next 12 months.

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