Trader or Driller? Iran War Exposes Big Oil’s Transatlantic Divide: Bousso

London's FTSE 100 rose 0.4% on Monday, led by defensive sectors like healthcare and consumer staples. GSK gained 4.7% after positive drug trial results. Oil majors Shell and BP rose 1% each. Government bond yields hit multi-year highs. Investors await central bank decisions from the BoE and Fed this week.

Dell (DELL) hit a record $538.47 due to AI demand and S&P 100 inclusion. Roivant (ROIV) surged to $42.50 after positive drug data. Shell (SHEL) reached $95.80 on Gulf of America stake and Morgan Stanley upgrade. Each stock gained 1-18% Tuesday.

Scotiabank (BNS) is committing over $100 billion to finance Canadian business expansion, focusing on sectors like clean energy, tech, and defence. It also launched the Scotia Growth Institute, led by former ambassador Kirsten Hillman, to assess Canada's competitiveness. The bank aims to address labour shortages with a $50-million skills program. Scotiabank's move follows OSFI's capital buffer reduction, freeing up lending capacity. Other Canadian banks, like RBC and BMO, are also increasing dome

Shell Energy North America (SENA) is acquiring Hunlock Creek Generating, a 169 MW natural gas facility in Pennsylvania, to strengthen its PJM power market position. SENA is also selling RISEC Holdings, a 609 MW plant in New England, to Constellation Energy for $715 million. Both deals are pending regulatory approval and expected to close in Q1 2027.

Angola's ANPG signed offshore exploration deals with Shell, Chevron, TotalEnergies, and others for deepwater blocks in the Kwanza and Congo basins. Contracts cover exploration, development, and production with initial 5-year and 30-year periods. Work commitments include seismic data reprocessing and drilling. Separate agreements focus on emissions reduction and methane measurement.

Global energy majors, including Shell, TotalEnergies, and ConocoPhillips, are increasingly interested in Canadian oil and gas producers due to Middle East instability and improved export routes. Shell's $16.4B acquisition of ARC Resources highlights this trend. Canada's political shift and vast undeveloped resources make it more attractive. Potential targets include Tourmaline Oil, with higher crude prices providing financial firepower for deals.