Expro Higher Bid, More Disclosure Short Sales

SITE SEARCH \| NEWS \| EARNINGS \| CALENDARS \| MUTUAL FUNDS

Sector Tables: Energy - Retail - Utilities - REIT - Banks - Brokerage - ETFs \| Oil Data

Login | Subscribe to Ticker

Market Update Analysis:

Author: 123jump.com Staff
123jump.com
Last Update: 7:35 PM EDT June 13 2008

(Continued)

Email article | Print article

UK stocks closed nearly unchanged. The regulatory agency FSA tightened the lending standards for short selling and increased the disclosure requirements for short sellers. The recent market volatility in the rights issue of several banks was exploited by short sellers to their advantage. Candover Partners and Goldman Sachs revised their offer for Expro International. The new offer at 1,615 pence per share values the deep oil well testing company at 1.8 billion pounds.

Commodity stocks fell after crude oil prices declined 0.3% to $136.32 a barrel. Xstrata shed 1.70%, BP edged down 1.51% and Vedanta fell 1.31%.

BG Group discovers new oil in Brazil

BG reported on its website today that it has made a new oil discovery in the Santos Basin, offshore Brazil, within the BM-S-9 concession area. The company said this is the second discovery within the concession area where the company holds 30% share along with Petrobras and Repsol YPF Brasil S.A.

1 2

More: Market Update Archive