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BP shares rise 3.6% on BP’s exit from $14bn stake in Russian-based oil and gas giant, Rosneft

The Australian market rallied to start the week, closing Monday’s session 0.73% higher at 7049.10 points as a surge in metals and mining stocks boosted the key index on the back of a rise in oil prices again.

The stocks that made headlines today were:
Zip Co and Sezzle Share prices halted after the buy now pay later providers announced that the companies have entered into a definitive agreement under which Zip has agreed to acquire Sezzle in an all-scrip deal by way of statutory merger. Sezzle shareholders will receive 0.98 Zip ordinary shares in the deal valuing Sezzle at $491m.

BP shares rose 3.6% on the London Stock Exchange today after the oil and gas giant announced the exit of its $14m stake, or near 20% stake in Russian oil giant Rosneft over Russia’s invasion of Ukraine. Rosneft accounts for around half of BP’s oil and gas reserves and a third of its production.

And BetMakers shares fell 4.3% today after the betting technology company released first half results including $27.8m loss, up 527% on the prior corresponding period, but revenue grew 473% on the prior corresponding period.

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