MARKET REPORT: African oil sees market rise in wait for Nigerian offer
AFRICAN oil producer Afren was pumped up 1p to 5¼p as the Takeover Panel extended the deadline to February 13 for Nigerian suitor Seplat to make a firm offer.
Randgold Resources climbed 265p to a two-year high 5685p and Fresnillo added 36½p to 899p as investors took a shine to precious metals producers.
Fellow mining heavyweights BHP Billiton and Anglo American gained 29½p to 1443p and 15½p to 1113p, while Rio Tinto rose 39p to 2925p.
A bullish report on its Tschudi copper mining project in Namibia, where first copper is due to be produced next month, lifted Weatherly International 0.8p to 1.68p. Online fashion retailer Asos was marked up 234p to 2747p as Exane BNP Paribas told clients to buy with a £40 price target, while a healthy increase in half-year revenues and profits raised Newmark Security 0.65p to 2.68p.
US oil and gas outfit Magnolia Petroleum flowed 0.07p north to 0.63p after a positive report on its reserves, while Mozambique miner Kenmare Resources firmed up 0.28p to 3.31p on solid production figures.
