Energy stocks inched up just over 0.4% at midday Monday, just one of the two sectors trading in the green. Brent crude futures were flat in recent trading after closing down 0.35% on Friday.
Helios Energy (ASX:HE8) said restart operations have begun at its Presidio oil project in Texas, and field crews are focused on restoring production and preparing surface facilities for sustained operation.
Intermittent production of oil, gas, and condensate was recovered and stored onsite while the wells and site facilities are being restored and refurbished.
On the flip side, the financial sector fell 2%, leading losses across the bourse. The Dow Jones Industrial Average closed down 0.32%, while the S&P 500 and Nasdaq indices were flat on Friday, after a Financial Times report that the administration of US President Donald Trump was considering a minimum tariff of between 15% and 20% on the EU.
Insignia Financial (ASX:IFL), which is down over 7%, said it is continuing to engage in discussions with CC Capital about the non-binding and indicative proposal for its takeover by CC Capital via a scheme of arrangement.
The company added that there is no certainty that the ongoing discussions will result in any transaction being put to its financial shareholders for their consideration.
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