On a quiet day for both corporate and macro-economic news the FTSE 100 takes its cue from strong trading in Asia overnight to stand 0.5% higher at 7,458.97.FTSE 100 real estate investment trust Hammerson (HMSO) gains 1.4% to 596.5p as it emerges that the developer of Manchester's Trafford Centre, John Whittaker, has built a 4.6% stake in the company through his private vehicle Peel Holdings....

Small cap oil and gas play Empyrean Energy (EME:AIM) continues its pivot to Asia having sold its US assets in 2016. It has now added to its existing Chinese acreage with a new project in Indonesia.The Duyung PSC is being acquired for $4m and contains the Mako shallow natural gas discovery. Thought to contain between 0.4 and 1.3 trillion cubic feet of gas, a well to test this potential is...

Small cap oil exploration and production company Empyrean Energy (EME:AIM) slips 1.8% to 2.21p as it discusses plans for 2017 alongside first half results.TRANSFORMATIONAL PERIODThis time 12 months ago Empyrean was a US focused producer with a 3% stake in the large Sugarloaf field in Texas. Early in 2016 the group agreed the sale of this asset to private equity group Riverstone for $71.5m.Once...

A pair of small cap oil and gas deals highlights a disparity between the way the market and industry are viewing the current depressed oil prices.To summarise, the industry apparently sees $30 per barrel oil and below as a blip while the market is more or less pricing in crude remaining at its current levels for the foreseeable future.If the market is wrong, there may be some big opportunities...

London equities begin the week on the front foot in early trade on Monday after a gruelling Friday session saw key indices plumb depths not seen for some time. Today's boost comes from reassuring action by China's central bank which has introduced measures to stem capital outflows. The People's Bank of China said on Monday it will start implementing a reserve requirement ratio (RRR) on...

London shares hit the skids in early trade on Tuesday as investors take their cue from Asian markets and further concerns about Chinese growth. The benchmark FTSE 100 index drifts around 50 points lower to 6,321, mirroring declines being registered right across Europe.In corporate news, Pilsner Urquell-to-Grolsch maker SABMiller (SAB) soars 9% to £39.48 after agreeing 'in principle' to...

The UK markets remain lower as concerns about the slowdown in the Chinese economy continue to weigh on investors from Toyko to New York and all points between. While the UK's benchmark is not matching the market declines of the previous day, the FTSE 100 is still down 12 points at 6,046.59.Commodities behemoth Glencore (GLEN) is leading the fallers again, shedding 4.9% to 127.05p, compounding...

London's index of leading shares rises 22.7 points in early trading to 6,455 after the market welcomes the sacking of Barclays (BARC) chief executive Antony Jenkins.The bank's shares gain 3.3% to 260.4p after Jenkins left following disagreements with the board over Barclays' direction. Executive chairman John McFarlane takes over until a permanent replacement is found.Beer brewing behemoth and...

Booming output of unconventional oil means the US is on the cusp of overtaking Saudi Arabia as the world's largest producer of liquid petroleum. Data from the International Energy Agency suggests the two countries were neck and neck at around 11.5 million barrels per day (bpd) in August (when oil output and related liquids such as propane and ethane are included) and as we write America may...

The market has failed to appreciate the full implications of an upgrade to reserves (20 May) at Empyrean Energy's (EME:AIM) liquids-rich Sugarloaf project. There remains an opportunity for investors to get involved at an attractive price of 15.1p.Chief executive officer Tom Kelly describes the updated audit from DeGloyer & Naughton as 'conservative', with the barrels contained within the...

An upcoming independent audit or competent person's report (CPR) on the portfolio of US shale play Empyrean Energy (EME:AIM) should shine a light on the upside potential in its flagship Sugarloaf project in Texas. The report, due around the end of this quarter, should help extend a rally which has seen the counter more than double to 16.7p in the last three months.The £35 million cap has a 3%...

Investment in UK shale is still hitting the headlines in 2014 with French oil major Total (FP:PA) making two investments in this nascent industry in the last month. With the exploitation of shale resources moving beyond the confines of the US we look at the market dynamics, politics and estimated size of shale oil and shale gas deposits.We analyse the US, UK, Polish and Argentine shale markets...

A valuation anomaly at Empyrean Energy (EME:AIM) could be addressed by two significant operational catalysts.The resource explorer's main asset is a 3% working interest in the gas and condensate Sugar Loaf project, currently producing from the Eagle Ford shale basin in Texas. In the near term the operator of Sugar Loaf, Marathon Oil (MRO:NYSE), is expected to announce the results from two...

Shares were down sharply by Wednesday lunchtime, with the FTSE 100 shedding 103.57 points to 6,658.44 as yesterday's strong rebound was reversed on fears surrounding the impact of a slowdown in China. Investors fretted over news the International Monetary Fund (IMF) has cut its 2013 growth forecast for the Asian economic powerhouse from 8% to 7.75% on the grounds of weak global demand.Concerns...

Buy Empyrean Energy (EME:AIM) following an encouraging update on production (13 Dec) and positive independent audit (14 Dec) on its gas and condensate Sugar Loaf project in the Eagle Ford shale basin in Texas.The reserves upgrade saw a 36% increase in proved and probable (2P) reserves to 4.4 million barrels of oil equivalent. Further updates are likely as output ramps up and they should drive...