Good morning, this is the market report with me Katie Pilbeam this Wednesday December 8th.
Global stock markets are rallying in light of new hopes that the potential severity of the Omicron variant is not as concerning as originally feared.
The FTSE is back above the November 26th drop when news of Omicrom first spooked the markets.
Politics is top of the agenda today as Boris Johnson faces a backlash after a recording leaked to ITV News showing Number 10 officials seemingly joking about a Christmas party in Downing Street that allegedly took place last year during a time of strict COVID restrictions.
Zephyr Energy has successfully completed testing of the State 16-2LN-CC well at the Paradox Basin project in Utah, with equipment-constrained rates reaching a peak of 1,083 barrels oil equivalent per day.
Braveheart Investment Group PLC (AIM:BRH) (Braveheart Investment Group PLC (AIM:BRH)) which is developing a Coronavirus (COVID-19) test with their Paraytec team at Sheffield University are confident the test will work with Omicron and other variants of COVID-19.
Red Rock Resources PLC (AIM:RRR) (Red Rock Resources PLC (AIM:RRR)) provided an update on its exploration programmes at the Mikei gold project in Kenya and said applications are being prepared for a mining licence and a mineral processing licence.
And Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) (Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF), Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF)) completed its US$181mln acquisition of Oklahoma-based Tapstone Energy, adding 12,000 barrels oil equivalent of production across 660 wells.