Firms in reverse takeover talksSerica shareholders to receive majority stakeCombined entity to be worth £670 millionLeading UK Independent energy companies EnQuest (ENQ) and Serica Energy (SQZ:AIM) jumped 15% and 4% respectively on Friday (7 March) after the two firms confirmed they are in discussions about a potential all-share reverse takeover.Over the last 12-months Serica shares are down...

After a strong 2022 as energy prices surged in the wake of Russia's invasion of Ukraine, the UK's contingent of UK small and mid-cap oil and gas companies has endured a much more challenging time in 2023. Windfall taxes have taken a big bite out of profits and commodity markets have fallen back as fears of recession dampen demand expectations.Facing the prospect of an unstable and more onerous...

Saga investors have to hope earnings are on courseThe share price has been unusually volatile since the interim resultsRather like its cruise-ship customers, shareholders in over-50s financial services and leisure group Saga (SAGA) will be hoping everything is plain sailing when the firm reports full year earnings on 4 April.The last six months have been anything but quiet, with the shares...

There was little doubt about the part of its latest results which Harbour Energy (HBR) wanted the market to focus on.Whereas companies often look to flatter their headline profit numbers, the opposite seemed to be true when Harbour, previously known as Premier Oil, reported full-year results on 9 March. Pre-tax profit of $2.46 billion had effectively been wiped out by the energy profits levy...

UK stocks reversed direction on Friday, following US markets lower after strong US non-farm payroll data showed the economy added 379,00 jobs compared with economist's expectations of 185,000 which sent bond yields higher.Crude prices remained elevated after the OPEC+ group of oil producers surprised the market by deciding to maintain their supply limits. Markets had expected the cartel to...

UK stocks clawed back early losses on Friday lunchtime ahead of the release of key US employment data with February non-farm payrolls expected to show a gain of 182,000 compared with 49,000 in January.Crude prices spiked as the OPEC+ group of oil producers surprised the market by deciding to maintain their supply limits. Markets had expected the cartel to resume production of up 1.5 million...

There were gains wherever you looked in the oil and gas sector on Friday as oil prices surged following the shock decision by OPEC and its allies not to increase supply (4 Mar).Brent crude is moving close to $70 per barrel in the wake of that call, the last time it traded above that level was pre-pandemic in January 2020 when tensions between the US and Iran hit fever pitch.The increase in the...

The coronavirus pandemic has forced businesses around the world and across the industrial divide to pull emergency levers to conserve cash.As most private investors will be acutely aware, a hefty toll has fallen on company dividends, with billions of pounds worth of planned payouts from UK stocks now taken off the table and out of investor's pockets.James Dow of Scottish American Investment...

WHAT HAPPENS NEXT IN THE OIL MARKET?It's very strange times for the oil market and there could be further trouble ahead. Unless demand picks up dramatically in the coming weeks then mid to late May could see a repeat of the recent scenario where people had to pay others to take oil off their hands.In this article we will explain what is going on with oil, what it reveals about the economy and...

UK markets regathered momentum to accelerate gains in afternoon trading after a firm start on Wall Street. Both the Dow Jones and S&P 500 rose more than 1.5% early in the Thursday session, although the tech heavy Nasdaq made more modest progress.Earlier in the day the UK government extended its Bank of England overdraft so it can borrow billions of pounds and bypass the bond market.The...

The FTSE 100 jumped in early morning trading as the UK government extended its Bank of England overdraft so it can borrow billions and bypass the bond market.The government has extended what's known as its 'Ways and Means' facility at the central bank.This allows it to immediately raise funds and smooth out cash flow as it tries to support the economy amid the coronavirus pandemic, which...

Mid cap oil firm Cairn Energy (CNE) is down 2.7% to 170p as full year numbers see confirmation of a reserves downgrade for its Kraken field in the North Sea.This follows on from yesterday's news of a delay in the arbitration proceedings over an Indian tax dispute and means the shares have now fallen 13.5% since the start of the week.The downgrade at Kraken, which reduced the estimated proved...

UK stocks start the year on the back foot with the FTSE 100 index falling 1.6% or 106 points to 6,622 giving up almost all of its post-Christmas gains.Every sector except Tobacco is in the red this morning with Banks, Industrial Engineers, Miners and Oils providing the biggest drag on the index.Best-performing stocks in the FTSE 100 are Imperial Brands (IMB) and retailers Next (NXT) and Marks...

Shares in north Sea oil producer Enquest (ENQ) dive 10% to 34.75p as the company announces a $100m heavily discounted rights issue. The new funds are being raised to acquire the remaining 75% of the Magnus oil field it does not already own, and carry out some future drilling work.The actual cost of the deal is $300m but the remainder will be met by a loan from the selling party, oil major BP...

The tables featured in this article give you the perfect starting point to swot up on stocks during the summer lull and before the market kicks back into gear in the autumn.We've pulled together five data-driven snapshots that should help drive idea generation for all investors whether or not your focus is on value, growth or income.LOW PE CANDIDATES (PRICE TO EARNINGS)The widely-used PE ratio...

London's FTSE 100 trades 19 points higher at 7,062 early on, investors relieved after Britain and the European Union agreed to a transition period to avoid a 'cliff edge' Brexit next year.On a busy day of corporate news, online grocer Ocado (OCDO) cheapens 3% to 555.4p after delivering a softer first quarter trading update with retail sales growing 11.7% in the 13 weeks to 4 March. CEO Tim...

Shares in housebuilders fell after the Budget announcement which failed to deliver the kind of radical changes to planning or extended financial support desired by the market.Although Chancellor Philip Hammond pledged £44bn to help build 300,000 homes a year by 2020, a lack of detail has gone down poorly with investors.In particular, there was no comment on extending Help to Buy. There was...

Shares in housebuilders are in retreat as the Budget fails to deliver the kind of radical changes to planning or extended financial support desired by the market.Although Chancellor Philip Hammond pledged £44bn to help build 300,000 homes a year by 2020, a lack of detail has gone down poorly with investors.In particular, there was no comment on extending Help to Buy. There was also vagueness...

Advertising giant WPP (WPP) says the first seven months of its new financial year have been very tough thanks to slowing GDP growth around the world. Second quarter net sales growth was less than the first quarter with forecast client spending in quarter two 'under considerable pressure', it says. Unsurprisingly the market has taken a negative view of the results, sending its share price down...

On 23 June EnQuest (ENQ) achieved first oil from the Kraken field off Shetland more than 30 years after crude was first discovered back in 1985. Its shares are up 9.3% at 32.25p.The story of how this project has developed to become a £4bn project and one of largest fields to come on stream in the North Sea in recent years helps shine a light on the way the sector operates.NOT COMMERCIALThe...