BUZZ-BP: market cheers Gulf spill settlement
** BP shares up c.2 pct, after rising 5 pct yesterday, following news of its settlement to resolve claims from its Gulf of Mexico oil spill five years ago
** Upgraded by JP Morgan to "overweight" from "neutral"; PT raised to 475p
** "By bringing unexpectedly early and essentially complete closure to the key tail risks to this tragic event BP becomes more investable to some institutions," analysts at JP Morgan (Other OTC: MGHL - news) write in a note
** Goldman Sachs (NYSE: GS-PB - news) also raises PT to 376p
** Over 6 million shares traded on London Stock Exchange (Other OTC: LDNXF - news) , more than double their full-day average trading volume
** Most traded by average 30-day volumes on FTSE 100
** Best two day run for stock since January
** Stoxx 600 Oil & Gas up 0.3 pct (RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)