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
Arts and Entertainment
tvPoldark, TV review
Arts and Entertainment
Cassetteboy's latest video is called Emperor's New Clothes rap
videoThe political parody genius duo strike again with new video
Arts and Entertainment
Louis Theroux: By Reason of Insanity takes him behind the bars again
tvBy Reason of Insanity, TV review
News
Lois Pryce... Life Without a Postcode. Lois lives on a boat with her husband.. Registering to vote in the election has prooved to be very difficult without a fixed residential post code. (David Sandison)
newsHow living on a houseboat meant I didn't officially 'exist'
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: Retirement Coordinator - Financial Services

Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...

Recruitment Genius: Annuities / Pensions Administrator

Negotiable: Recruitment Genius: You will be the first point of contact for all...

Ashdown Group: HR, Payroll & Benefits Officer - Altrincham - up to £24,000.

£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...

Ashdown Group: Learning and Development Programme Manager

£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...

Day In a Page

Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat
Saudi Arabia's airstrikes in Yemen are fuelling the Gulf's fire

Saudi airstrikes are fuelling the Gulf's fire

Arab intervention in Yemen risks entrenching Sunni-Shia divide and handing a victory to Isis, says Patrick Cockburn
Zayn Malik's departure from One Direction shows the perils of fame in the age of social media

The only direction Zayn could go

We wince at the anguish of One Direction's fans, but Malik's departure shows the perils of fame in the age of social media
Young Magician of the Year 2015: Meet the schoolgirl from Newcastle who has her heart set on being the competition's first female winner

Spells like teen spirit

A 16-year-old from Newcastle has set her heart on being the first female to win Young Magician of the Year. Jonathan Owen meets her
Jonathan Anderson: If fashion is a cycle, this young man knows just how to ride it

If fashion is a cycle, this young man knows just how to ride it

British designer Jonathan Anderson is putting his stamp on venerable house Loewe
Number plates scheme could provide a licence to offend in the land of the free

Licence to offend in the land of the free

Cash-strapped states have hit on a way of making money out of drivers that may be in collision with the First Amendment, says Rupert Cornwell
From farm to fork: Meet the Cornish fishermen, vegetable-growers and butchers causing a stir in London's top restaurants

From farm to fork in Cornwall

One man is bringing together Cornwall's most accomplished growers, fishermen and butchers with London's best chefs to put the finest, freshest produce on the plates of some of the country’s best restaurants
Robert Parker interview: The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes

Robert Parker interview

The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes
Don't believe the stereotype - or should you?

Don't believe the stereotype - or should you?

We exaggerate regional traits and turn them into jokes - and those on the receiving end are in on it too, says DJ Taylor
How to make your own Easter egg: Willie Harcourt-Cooze shares his chocolate recipes

How to make your own Easter egg

Willie Harcourt-Cooze talks about his love affair with 'cacao' - and creates an Easter egg especially for The Independent on Sunday
Bill Granger recipes: Our chef declares barbecue season open with his twist on a tradtional Easter Sunday lamb lunch

Bill Granger's twist on Easter Sunday lunch

Next weekend, our chef plans to return to his Aussie roots by firing up the barbecue
Joe Marler: 'It's the way I think the game should be played'

Joe Marler: 'It's the way I think the game should be played'

The England prop relives the highs and lows of last Saturday's remarkable afternoon of Six Nations rugby
Cricket World Cup 2015: Has the success of the tournament spelt the end for Test matches?

Cricket World Cup 2015

Has the success of the tournament spelt the end for Test matches?
The Last Word: Justin Gatlin knows the price of everything, the value of nothing

Michael Calvin's Last Word

Justin Gatlin knows the price of everything, the value of nothing