STOCKS NEWS UK-Cadogan Petroleum rises on permit news

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08:45GMT 13Oct2009-Cadogan Petroleum rises on permit news

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Shares in Cadogan Petroleum Plc (CADP.L) continue Monday's rally, up as much as 40 percent to a nine-month high, after the Ukraine-focused oil and gas firm said on Monday that it received government confirmation of the company's permits to five developments which had been the subject of an indirect legal challenge. [ID:nRnsL6204A]

Cadogan also said on Monday that it is cutting jobs and selling equipment as part of a reorganisation. [ID:nBNG491837]

"(The share price rise) is a reaction to the fact their licences seem secure now and obviously if there is better news on cost cutting it's always a good thing," says Lionel Therond, analyst at Fox-Davies Capital.

Reuters messaging rm://sharon.lindores.reuters.com@reuters.net

07:56GMT 13Oct2009-ITV boosted by Oct, Nov ad sales

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Shares in ITV (ITV.L) gain 5.4 percent as the free-to-air broadcaster says advertising in October and November is down 3 percent, comfortably beating analyst expectations.

The broadcaster, which is struggling to find a new chief executive and chairman, is also launching a convertible bond to bolster its balance sheet and scrapping the sale of its SDN unit.