Scotland’s new stock exchange has secured a seven-figure equity investment to support the project ahead of it going live this year.
Sound Energy will be included in the London Stock Exchange for the first time later this month.
London’s FTSE 100 Index edged back into positive territory amid higher oil prices as investors focused on a crunch meeting between members of the Opec cartel.
Top flight shares looked like ending the week on the up, as takeover target the London Stock Exchange (LSE) saw its full-year profits surge. The British bourse said adjusted pre-tax profits climbed 31% to £643.4 million, up from £491.7 million in 2014, adding that its £20 billion merger talks with Germany’s Deutsche Borse were making “excellent progress”.
Seplat Petroleum has seen its working interest production for last year boosted by more than 40%. The Nigeria and London Stock exchanged firm said its current daily production interest was sitting at around 55,000boepd (barrels of oil equivalent per day) with both its oil and gas rates strong.
Markets were up strongly for the second day in a row, as oil prices rose at the end of a turbulent week. The FTSE 100 Index was up 140.5 points to 5914.5, following positive overnight trading in Asian markets.
Partners in the Leviathan natural gas site in Israel are said to be in talks to supply gas to a number of companies in the region. A statement to the Tel Aviv Stock Exchange showed a message from units of Delek Group which said the firms were private electricity producers and industrial companies.
The dismal start to trading in the new year showed no sign of abating as global markets tumbled after oil prices slumped to fresh 11-year lows. London’s FTSE 100 Index dived 1.6% into the red, down 95 points at 6042.2, with indices across Europe also sharply lower as Brent crude dropped below 35 US dollars a barrel at one stage. Sentiment had already been impacted by amid renewed worries over China after a poor report on the country’s services sector, while investors were also unnerved after North Korea claimed to have successfully carried out a hydrogen bomb test - its fourth since 2006.
Essar Oil has finished delisting its shares from the Indian stock exchange for $564million.
The FTSE 100 Index fell 34.5 points to 6054, heading for its seventh day of losses and closing in on a three-month low. Sports Direct International was one of the biggest fallers in the top flight, slumping 16p to 576.5p, in a week that has also seen the firm mired in controversy surrounding its treatment of staff.
PA Resources said it will sell off all of its oil and gas assets as the company’s chief financial officer also revealed he will be leaving the firm. The Swedish Independent said a review of the company’s strategic options had been up for review since April this year. PA Resources said it had found no viable alternatives with regard to long-term financing or mergers and acquisitions.
Oil and gas shares staged a partial recovery yesterday as the City bounced back from “Black Monday”.
Chinese stocks have tumbled again after their biggest decline in eight years while most other Asian markets rebounded from a day of heavy losses. The mixed picture comes after a tumultuous day on Wall Street, where the Dow Jones industrial average ended down 3.6% after trimming much bigger losses. European markets were also hit badly. Analysts said it was unclear whether this was a sign the worst was over, or a reprieve in a longer-term bear market.
Oil engineering firm Willbros Group has been warned its stock could be de-listed from the New York Stock Exchange. The move will happen unless the company trades at an average of $1 a share over a 30-day period. The company said in 10 days it will tell the NYSE how it aims to get back into compliance with the group’s listing standards within six months.