Oil shares are in focus at the moment, and not just BP for a change. Instead, there is a spate of takeover speculation doing the rounds.
Dana Petroleum has climbed 58p to £12.13 on renewed talk that Australia's OMV was interested in the oil and gas group. Meanwhile the oil services sector was lifted by news that Olso group Acergy was buying rival Subsea 7 in an all share deal. This has put the spotlight on similar businesses, with Petrofac up 33p at £12.75, Wood Group rising 11.1p to 332.4p and Wellstream 18p better at 561p. Lamprell - which moved higher at the end of last week on news of a boost to its wind power business - also benefited, adding 14p to 241.6p.
Meanwhile beleaguered BP was heading in the other direction, down 7.85p at 349.6p as the bad news on the Gulf of Mexico oil spill continued, including minority partner Anadarko Petroleum Corporation arguing about responsibility and costs.
