All the day’s economic and financial news,as the Bank of England announces its unusual bank stress tests and a possible clampdown on buy-to-let mortgages 9.23am BSTShares in oil exploration firm Rockhopper beget slumped by 10% after a United Nations commission ruled that the Falklands Islands fall within Argentina’s territorial waters.
Rockhopper has been drilling around the Falklands for several years, and in January it announced it had discovered oil off the northern coast. The Argentine foreign ministry said its waters had increased by 1.7 million square km (0.66 million square miles) and the decision will be key in its dispute with Britain over the islands. Argentina lost a brief, and bloody 1982 war with Britain after Argentinian troops seized the South Atlantic archipelago that Latin Americans call the Malvinas.
The UN commission on the limits of the continental shelf sided with Argentina,ratifying the country’s 2009 report fixing the limit of its territory at 200 to 350 miles from its coast. Related: Falkland Islands lie in Argentinian waters, UN commission rules 8.51am BSTThe mood in the City moral now:Having Monday off provides an opportunity to hate Tuesday's #backtoworkContinue reading...
Source: theguardian.com