BP, Shell: Premarket Trading

Energy stocks were trading in the red, with both BP and Royal Dutch Shell lower before the markets open Monday.

Author:: Andrea Tse
Publish date:: Nov 29, 2010 8:16 AM EST

NEW YORK (TheStreet) -- Energy stocks were trading in the red before the market open Monday.

(BP) - Get Report

was falling 1.5% to $40.31 after it announced

plans to sell a stake in an Argentina asset

in order to help pay for the costs of the Gulf of Mexico oil spill.

Royal Dutch Shell

(RDS.A)

was lower by 1.1% to $61.53. According to

The Wall Street Journal

, a U.S. subsidiary of the company is putting its South Texas gas fields up

for sale (AMZN) - Get Report

Amarin

(AMRN) - Get Report

was soaring by 11.8% to $3.97 as the drug company reported positive results from a phase III clinical trial of its drug AMR101 for patients with high fatty acid levels.

Shares of

Amazon (AMZN) - Get Report

rose 0.6% to $178.23 in premarket trading as retailers kicked off "Cyber Monday," offering online shoppers free shipping and deep discounts.

The day occurs the Monday after Thanksgiving and "Black Friday," the traditional first day of the holiday shopping season.

According to

Reuters

, Web tracking firm comScore says shoppers could spend about $900 million on Monday.

With its Kindle reading device as one of the main attractions, Amazon is expected to benefit greatly from Cyber Monday.

Internet auctioneer

eBay

(EBAY) - Get Report

rose 0.5% to $31.01 in premarket trading.

Shares of retailer

Target

(TGT) - Get Report

were flat at $56.90.

Wal-Mart

(WMT) - Get Report

shares were rising by 0.4% to $53.94.

On Monday,

Wal-Mart said it offered to buy South Africa's Massmart Holding

for about $20.78, or $2 billion.

Royal Bank of Scotland

(RBS) - Get Report

was lower by 0.2% to $12.05 in premarket trading, while

Barclays

(BCS) - Get Report

was down 0.5% to $16.23 as the market weighed how big a role the European Union's rescue plan would play in helping Ireland's ailing financial sector.

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