HEDGE fund boutique Lansdowne Partners has increased its stake in Regal Petroleum, having already doubled its money in only two months. After the latest purchase, Lansdowne’s shareholding has risento 4.2 million shares, or 4.1%. A big oil find in Greece last month and general enthusiasm for natural resources firms have helped propel the shares. Citywire.co.uk

HEDGE fund boutique Lansdowne Partners has increased its stake in Regal Petroleum, having already doubled its money in only two months. After the latest purchase, Lansdowne’s shareholding has risento 4.2 million shares, or 4.1%.

A big oil find in Greece last month and general enthusiasm for natural resources firms have helped propel the shares. Citywire.co.uk

SHARE ISSUE

NICHE Thames Gateway developer Telford Homes is raising Pounds 5 million via a placing of 3.95 million shares at 130p, arranged through Shore Capital, to build more homes in the area. Joint founder and chairman David Holland and his wife Janet will gross Pounds 130,000 from selling 10% of their combined stake included in the placing.

SPEAKING OUT

‘I didn’t know I was going to go into mobiles when I left British Gas. I am confident something will turn up. God knows what, but there is a plan up there somewhere.

David Varney, outgoing chairman of mmO2, quoted in PR Week

IN PROSPECT

AMERICAN Treasury Secretary John Snow testifies on the President Bush’s fiscal 2005 budget proposal before the Senate Budget Committee this evening, just days after it was revealed the US government ran a monthly deficit in January of $1.39 billion (Pounds 760 million) in contrast to a $10.64 billion surplus in the same month in 2003.