Oil companies surged on consolidation hopes today after explorer Burren Energy said it had shunned “a number” of approaches worth up to £1.54bn (€2.2bn).

The London market was on the rise today after takeover interest in cigarette giant Gallaher lit up the tobacco sector.

Premier Oil PLC today today announced that operating profits grew by 17%, and net profits by 80% in the past year.

Campaigners today hailed British American Tobacco’s withdrawal from Burma, and urged other multinationals to follow suit to protest at the military junta’s alleged human rights abuses.

Oil company Premier has delisted from the Irish and London stock exchanges following a corporate restructuring.