Shares in BG Group are rocketing upwards after the company agreed to a merger with oil giant Shell. The tie-up will create a company worth £224 billion.
As of 8:15 a.m. London time (3:15 a.m. ET) London-listed BG Group’s shares are up 37%, climbing to levels last seen in the summer, before falling oil prices took their toll.
Here’s how it looks:
The share price climbed about 6% yesterday too, and the company’s shares surged from about 852 pence just before Easter to nearly 1,250 pence now.
Investors aren’t taking the news as such a positive thing for Shell — London-listed B shares are down by nearly 6%.