STOCK WATCH

UK oil producer Enquest is tapping shareholders for £106m to buy the rest of the Magnus oil field in the North Sea from BP.

Boss Amjad Bseisu said the remaining 75pc would give it access to a further 60m barrels. Enquest also announced lower-than-expected output from its key Kraken field.

Shares have climbed over the past year with Kraken coming on stream, rising from around 25p in September last year. Yesterday, they fell 13.3pc, or 5.15p, to 33.45p.