BP Rises on $7 Billion Sale of Oil Fields to Apache

BP Plc rose in London trading after agreeing to sell oil and gas fields in the U.S., Canada and Egypt to Apache Corp. for $7 billion, raising cash to meet the costs of the Gulf of Mexico spill.

BP climbed 3.2 percent to close at 399.9 pence. The stock is down 39 percent since the Deepwater Horizon rig exploded on April 20, killing 11 workers and triggering the worst oil spill in U.S. history.