Lamprell climbs on new contract

Rig maker Lamprell’s share price shot up over seven per cent yesterday, after it said it had secured a $370m (£220m) contract with Shelf Drilling, to provide two new rigs for operations in South East Asia. The FTSE small cap-listed firm is scheduled to deliver the first rig in the third quarter of 2016 and the second one in the second quarter of 2017. The rigs will be able to operate in water depths of up to 350 feet.