Cnooc Gains Most in Almost 6 Years After Profit Beats Consensus

Updated on
  • Shares surge 14 percent for biggest gain since Oct. 2008
  • Stock rated `outperform' at Macquarie Capital Securities

Cnooc Ltd., China’s biggest offshore oil and gas explorer, rebounded in Hong Kong trading after its first-half profit beat consensus even as the collapse of crude price dragged earnings down 56 percent from a year ago.

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