Market Report: Rupert Murdoch’s promotion of sons has reignited speculation about a bid for Sky

 

BSkyB moved higher in a subdued market yesterday, amid renewed speculation that it could be a bid target.

Rupert Murdoch’s promotion of his two sons within his media empire has reignited speculation about a possible bid for Sky. UBS said at the start of the year the broadcaster could be a target for either Murdoch or the likes of Vodafone or O2.

The chatter comes amid consolidation in the US market, with Comcast taking over rival Time Warner for $45bn and reports of talks between Dish Network and DirecTV. Sky added 14p to 930p.

The Footsie fell 16.98 points to 6588.32 yesterday as banks and miners hit the index. The US Federal Reserve blocked the shares buyback and dividend plans at HSBC, off 2.9p at 608.3p, and RBS, down 4.2p at 301.9p, amid concerns over capital, while fears of a Chinese slow-down continued to weigh on the mining sector. It wasn’t helped by Glencore Xstrata’s suspending production at an Australian mine after a fall in coal prices– down 4p to 307.1p.

Tullow Oil fell 18p to 759p after a disappointing update on its Kenya project. Mid-cap Scottish explorer Cairn Energy was up 6.2p at 173.3p after upgrades from Investec and Goldman Sachs.

AIM-listed Mediterranean Oil & Gas toasted a victory in the courts over one-time partner Leni Oil & Gas. Leni, run by David Lenigas, sold out a 10 per cent stake in a Malta site to MOG for $1, which it then flogged to Tony Hayward’s Genel Energy for $10m. Leni, down 0.07p to 0.74p, claimed MOG had mislead it over the deal, but Mr Justice Males decided not, saying: “Litigation like the oil business is a high risk activity and LGO failed to strike oil.” MOG welled up 0.87p to 6p.

Horizon Discovery started life on AIM with a pop. The Cambridge-based biotech firm, which works on disease mapping and personalised medicine, hit 214.5p after floating at 180p. Panmure Gordon was the book runner.

South African coal operator Strategic Natural Resources collapsed 3.5p to 3p after revealing its had a winding-up petition from London Commodity Brokers, seeking $1.15m. Its subsidiary Elitheni was also hit with a court order in South Africa, freezing the firm’s interest.

Start your day with The Independent, sign up for daily news emails
ebooks
ebooksA special investigation by Andy McSmith
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Financial Adviser

£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...

SThree: Graduate Recruitment Resourcer

£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...

Guru Careers: Application Support Analyst / 1st Line Support

£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...

Guru Careers: .NET Developer / Web Developer

£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...

Day In a Page

Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

Not even the 'putrid throat' could stop the Ross Poldark swoon-fest'

How a costume drama became a Sunday night staple
Miliband promises no stamp duty for first-time buyers as he pushes Tories on housing

Miliband promises no stamp duty for first-time buyers

Labour leader pushes Tories on housing
Aviation history is littered with grand failures - from the the Bristol Brabazon to Concorde - but what went wrong with the SuperJumbo?

Aviation history is littered with grand failures

But what went wrong with the SuperJumbo?
Fear of Putin, Islamists and immigration is giving rise to a new generation of Soviet-style 'iron curtains' right across Europe

Fortress Europe?

Fear of Putin, Islamists and immigration is giving rise to a new generation of 'iron curtains'
Never mind what you're wearing, it's what you're reclining on

Never mind what you're wearing

It's what you're reclining on that matters
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband

Chuka Umunna: A virus of racism runs through Ukip

The shadow business secretary on the benefits of immigration, humility – and his leader Ed Miliband
Yemen crisis: This exotic war will soon become Europe's problem

Yemen's exotic war will soon affect Europe

Terrorism and boatloads of desperate migrants will be the outcome of the Saudi air campaign, says Patrick Cockburn
Marginal Streets project aims to document voters in the run-up to the General Election

Marginal Streets project documents voters

Independent photographers Joseph Fox and Orlando Gili are uploading two portraits of constituents to their website for each day of the campaign
Game of Thrones: Visit the real-life kingdom of Westeros to see where violent history ends and telly tourism begins

The real-life kingdom of Westeros

Is there something a little uncomfortable about Game of Thrones shooting in Northern Ireland?
How to survive a social-media mauling, by the tough women of Twitter

How to survive a Twitter mauling

Mary Beard, Caroline Criado-Perez, Louise Mensch, Bunny La Roche and Courtney Barrasford reveal how to trounce the trolls
Gallipoli centenary: At dawn, the young remember the young who perished in one of the First World War's bloodiest battles

At dawn, the young remember the young

A century ago, soldiers of the Empire – many no more than boys – spilt on to Gallipoli’s beaches. On this 100th Anzac Day, there are personal, poetic tributes to their sacrifice
Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves

Follow the money as never before

Dissent is slowly building against the billions spent on presidential campaigns – even among politicians themselves, reports Rupert Cornwell
Samuel West interview: The actor and director on austerity, unionisation, and not mentioning his famous parents

Samuel West interview

The actor and director on austerity, unionisation, and not mentioning his famous parents
General Election 2015: Imagine if the leading political parties were fashion labels

Imagine if the leading political parties were fashion labels

Fashion editor, Alexander Fury, on what the leaders' appearances tell us about them
Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

Phumzile Mlambo-Ngcuka: Home can be the unsafest place for women

The architect of the HeForShe movement and head of UN Women on the world's failure to combat domestic violence