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The Markets
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Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

Monday's most followed including San Leon Energy, Nostra Terra Oil & Gas and Magnolia Petroleum

One of the most popular stories on search engine Google Finance concerned coffee giant Starbucks and had investors today eagerly hunting for more.

The firm's executives face quizzing from the government's public accounts committee today.

The firm has paid only £8.6 million in total UK tax over the last 13 years despite reporting sales of £3.1 billion.

The issue has prompted some to call for a review of UK tax regulations.

Another popular story today concerned San Leon Energy (LON:SLE) and Aurelian Oil & Gas (LON:AUL), which unveiled an agreement on the terms of a merger where San Leon will acquire Aurelian.

Through an all paper deal Aurelian shareholders will receive 1.3 new San Leon shares for each Aurelian share they hold.

As a result Aurelian shareholders will hold 34% of the new company - thus leaving existing San Leon shareholders with the other 66%.

San Leon shares were down 13.66% today, to change hands at 8.28 pence. Aurelian was also down 6.82% to trade at 10.25p.

Nostra Terra (LON:NTOG) shares were up 3.66% today, after it said the first horizontal well on the Chisholm Trail prospect in Oklahoma had been successfully completed and is undergoing production testing.

So far a mix of oil and frac fluid has been recovered, although the sale of the crude has already begun.

The firm was popular with traders today and was the second most popular RNS statement.

Also popular was news from house builder Taylor Wimpey (LON:TW.) which said today it was on track to meet full year expectations and that the UK housing market remained stable.

The government's NewBuy scheme had generated strong interest amongst its customers since launching earlier this year, it added.

Magnolia Petroleum (LON:MAGP) news was also popular today. It raised almost £2.9 million net of expenses via its equity financing facility with Darwin Strategic.

The injection of cash will be used to settle a US$2 million payment outstanding on the acquisition of mineral acreage in Montana, it said.

News on Tony Hayward's Genel Energy (LON:GENL) also found itself among the top ten "most read" statements.

The firm is to take an extra 49% of the Miran field in Kurdistan taking ownership to 100% so that Heritage Oil can repay a debt.

Genel also said today it will buy a 50% interest in the Odewayne block in Somaliland from Jacka Resources for $657,000.

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