A rethink by Italian politicians over the rules governing oil and gas exploration has seen at least two London-listed firms rocket in morning trading.
The Italian government had restricted exploration and production in the deep waters off its coasts following the Gulf of Mexico disaster in 2010.
It seems, however, that new legislation will ease restrictions on some offshore licences.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This means both Mediterranean Oil & Gas and Petroceltic International can start work again in the region. The shares have risen 6% and 1.2%, respectively.
BS
-
Saba Capital and Boaz Weinstein respond to investment trustsAs investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
-
How to find top-quality companies with growing dividendsIan Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
