Thank you for joining me. Harbour Energy, the largest oil producer in the North Sea, experienced a significant shift in financials with an $8 million loss after tax, compared to a $984 million profit in the first half of last year.
The company attributes these losses to the windfall taxes imposed by the Government and the subsequent restructuring of the business in response.
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Latest developments
Asian markets experienced a broad-based rally, driven by the rise in tech stocks following impressive earnings from chipmaker Nvidia and indications that the Federal Reserve is nearing the end of its rate-hiking campaign.
Equity benchmarks in Japan, Australia, and South Korea witnessed gains, while Hong Kong’s shares had their best day in a month, led by a surge in tech stocks.
Wall Street recorded its most prosperous day since June as US Treasury yields decreased from their highest level since 2007.
The Dow Jones Industrial Average concluded with a 0.5% increase at 34,472.98.
The S&P 500, spanning a broad range of industries, saw a 1.1% rise to 4,436.01, while the tech-heavy Nasdaq Composite Index significantly jumped 1.6% to 13,721.03.
Benchmark 10-year Treasury yields slightly eased to 4.191% after reaching a 16-year high of 4.36% during the previous session.
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