MARKET REPORT: IGas up by 15% after government gives the green light to Cuadrilla to begin fracking in Lancashire
Energy firms caught traders' attention yesterday as the Government threw its weight behind the British shale revolution.
Communities Secretary Sajid Javid gave Cuadrilla approval to frack at its site in Preston New Road, Lancashire. The controversial technique might not be loved by campaigners, who fear it can cause earthquakes, but it was music to the ears of investors.
Although Cuadrilla is a private company without a stock market listing, dealers saw the approval as a licence to drill down into the sector themselves.
Their enthusiasm pushed shares in onshore exploration firm IGas Energy... read more
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