Rumour of the day
Providence Resources, the gas explorer of the Irish Sea, 40 per cent owned by the newspaper tycoon Sir Anthony O’Reilly, is said to be close to obtaining a new licence from the Irish Government to explore further areas of the Atlantic west of Ireland in conjunction with its partner ExxonMobil. The shares were steady at €5.80
Bet of the day
As oil prices creep back above $90 a barrel, the share price of Shell fell 36p to £19.13, hit by worries over BP guiding down analysts’ expectations for its fourth-quarter profits in February. The higher oil price has increased BP’s costs and taxes. BetsForTraders.com is offering odds of 2-1 for Shell to be trading above £20.25 in five market days.
http://business.timesonline.co.uk/tol/business/markets/article3207587.ece
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