The three-month saga that is the Gulf oil spill isn’t as bad now, but it’s not close to being over. Once BP stopped the flow of oil into the Gulf, some investors showed a bit of optimism by buying shares of the company on both the FTSE and NYSE. However, it’s not all roses from here.

On Tuesday, shares of BP closed at 387.45 on the FTSE and 35.56 on the NYSE—both down very slightly, but still well off their 52-week highs of 658.20 and 62.38 respectively.

While the desire to get in at the bottom might be propelling some investors to buy shares of BP, there’s still a lot of trouble on the horizon and the company’s stock on both exchanges has the potential for more downside. Read the full story

Workspace Group (WKP) which lease office space to small to medium sized businesses (SME) released full year results this morning causing a 1.7% increase in the share price this morning despite a fall in the FTSE driven down by miners.  Current FTSE price is 4389.32 down -49.82.

Workspace reported a pretax loss of £360.4 million for the year ended March 2009, compared with a loss of £37 million a year earlier.

Panmure Gordon rate this company stock as a “BUY”

Panmure describes Workspace’s results as “encouraging”, saying they met its forecasts, and that it is maintaining its 2010 forecasts for the group.  This is promising for a commercial property company during this time, which will give hope for investors.

Workspace are also paying a 0.50p dividend to share holders making this an attractive stock to hold and will make current share holders happy.

The broker says despite the challenging nature of property markets in recent times, the company continues to see resilience in both demand and the cash rent-roll.

“Furthermore, with the business significantly de-risked following the rights issue, debt-restructuring and ongoing disposal programme, we see good potential upside for the business when the London property market turns,” says Panmure

Current Share Price – 14.86p

Broker Rating – “BUY”

NAV – 27P

Final dividend of 0.50p per share proposed