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BUZZ-BG Group: asset sale fails to revive stock

Reuters - UK Focus

** BG Group (LSE: BG.L - news) fails to hold onto early session gains fuelled by sale of its Australian gas pipeline

** Stock, which spiked up 2.9 pct in 1st few mins of trade, currently down 1.3 pct around its lowest levels since early 2009

** UK broker Galvan's head of trading Ed Woolfitt calls news "modestly good", but says he would not buy BG shares on the back of it as ultimately it just highlights problems sector faces

** Oil price has slumped more than 40 pct since June, pressuring oil cos to cut costs to help shield earnings

** Woolfitt notes that asset sales by Tullow Oil (LSE: TLW.L - news) have failed to halt its recent share price slide; it is currently trading around 7.5 yr lows (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)