Nexen up 14% on CNOOC deal; energy stocks mixed

12/10/2012

Nexen up 14% on CNOOC deal; energy stocks mixed

BY STEVE GELSI

CALGARY -- Nexen Inc. rallied 14.5% to $26.92 a share on Monday after Canadian regulators approved the purchase of the energy company by China's CNOOC Ltd., while the energy sector traded mixed.

Among the major benchmarks in the sector, the NYSE Arca Oil Index rose 0.4%, the NYSE Arca Natural Gas Index dipped 0.3% and the Philadelphia Oil Service Index slipped about 0.1%. The Select Sector SPDR-Energy Index traded about flat. Among S&P 500 components, Tesoro Corp. rose 1.4%, while Apache Corp. dipped 1.5%. U.S.-listed shares of CNOOC rose 0.2%.

Dow Jones Newswires

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