Severn Trent and Randgold Resources

Randgold Resources: Shareholders were optimistic about the prospects of a deal, speculating bids could be as high as 200p per share. But whatever offers were made didnt satisfy the board, which yesterday opted instead to just sell a 40 per cent stake in its Greater Bualuang field in the Gulf of Thailand to Petroleum for $280m, according to The Independent. The bluechip index was quiet, with traders reluctant to take any big positions as geopolitical uncertainties rumble on. Defence stocks continued to be in demand, with gold miners Fresnillo and Randgold Resources up 14.5p to 915.5p and 40p to 5105p respectively and utilities like Severn Trent, up 17p at 1943p, and National Grid, 2.5p better at 866.5p, trading well and The Asian-focused oil and gas explorer fell to the bottom of the small-cap index, down 8p at 119.5p, after admitting it had called time on efforts to sell itself. Salamander put the For Sale sign out in May, after the touting of assets attracted punters interest in the whole operation. Chairman Charles Jamieson said the deal, which will see $50m returned to investors pockets, represents the best outcome for shareholders and the wider Group. (news.financializer.com). As reported in the news.