Legal update lifts Cairn Energy

The price of shares in FTSE 250 firm Cairn Energy (LON:CNE) increased by 4.07% to 135.60p (as of 15:50 BST) after it provided an update on its proceedings against the Government of India. The Arbitral Tribunal has experienced difficulties due to the COVID pandemic but does not expect any significant delays. While no specific date has been given, a result is expected by the end of the summer.

Management continue to have a high degree of confidence and is seeking restitution for losses of $1.4 billion.