BG Group share price rockets while Shell tumbles after takeover deal
Shares in BG Group have rocketed in early trading after a takeover deal by Royal Dutch Shell was confirmed.
BG shares shot up more than 40 per cent to 1298.50 pence per share on yesterday's close of 910.40 pence per share – their highest since September.
Shares in BG, along with other oil producers, have been hit by falling oil prices over the last year. BG Group shares alone have fallen 30 per cent in the last year.
Meanwhile, shares in Shell dipped more than five per cent to 2084.50 pence per share on yesterday's close of 2208.50 pence per share.
Other energy firms benefited in the deal bonanza as shares in rival energy firm BP were seen three per cent higher, while Tullow Oil was up more than 10 per cent.