Goldman Sachs expects rethink on bank levy in UK Budget
7th Jul 2015 12:43
Ahead of Chancellor George Osborne's Budget on Wednesday, here's a round-up of what Goldman Sachs expects. For UK banks, attention will be focused on any potential reform of the bank levy, as Osborne did not discuss it in his Mansion House speech in June, despite prior speculation. Goldman does not
Read moreEnergy market investigation by CMA calls for tariff caps to prevent overcharging
7th Jul 2015 07:45
An energy market investigation by the UK competition authority has criticised power companies for charging customers "too much for their energy bills" and proposed several measures to prevent this, including capping some tariffs. The Competition and Markets Authority has called for changes to the wa
Read moreSunday newspaper round-up: Energy and financial regulators, Sainsbury's and Supergroup
5th Jul 2015 16:03
The Big Six energy firms are expected to escape demands for a major break-up when the Competition and Markets Authority (CMA) this week announces the results of its lengthy review into competition in the industry. The competition regulator is expected to say that the vertical integration structure u
Read moreNo need for break-up of Big Six, competition watchdog expected to say
5th Jul 2015 12:46
The Competition and Markets Authority (CMA) is expected to this week say it will not force the Big Six energy firms to break-up. The CMA is expected to say that the vertical integration structure under which the Big Six operate does not result in higher prices. Presenting its provisional recommenda
Read moreCharles Stanley upgrades Centrica to 'hold' post UK election
17th Jun 2015 15:26
Charles Stanley lifted Centrica's rating from 'reduce' to 'hold,' citing certainty in the market following the re-election of a Conservative majority. The brokerage said the outcome of the UK general election removed a key threat for the energy company. It said that as the largest household suppli
Read moreSevern Trent and National Grid outperform during corrections
17th Jun 2015 13:42
Past performance is no guarantee of futures returns, but it may nevertheless pay to be aware of certain typical trading patterns, especially if you happen to own shares in Severn Trent or National Grid. Given the recent price action in financial markets - with the FTSE 100 down 6% from its peak and
Read moreOfgem to force energy suppliers to increase tariff transparency
3rd Jun 2015 12:03
UK energy suppliers will this year begin to be forced by regulator Ofcom to tell customers about cheaper tariffs, even if they are sold via a different company. Energy regulator Ofgem on Wednesday published its final decision on how suppliers who sell energy via 'white label' resellers. Under curre
Read moreSunday newspaper round-up: Vodafone, National Grid, bank legal claims
24th May 2015 16:21
Several of Vodafone's major shareholders have urged the telecoms giant to pursue a merger with US-based Virgin Media owner Liberty Global and offload some of its overseas businesses. After Liberty's owner, US billionaire John Malone, dropped heavy hints about a potential deal, the Sunday Telegraph r
Read moreCentrica to buy more gas from Statoil and Gazprom under supply deals
13th May 2015 14:45
British Gas owner Centrica has extended two gas supply agreements, increasing the volume of gas it is buying from both Statoil and Gazprom. Centrica signed a 10-year agreement with Statoil in 2011 for the supply of 5bn cubic metres (bcm) of gas per annum to be delivered to the UK from October 2015.
Read moreLondon close: Stocks erase gains despite Greek repayment, China rate cut
11th May 2015 16:40
After a positive start, UK stocks dropped into the red by the close on Monday despite positive news emanating from Greece, which has come good on its debt repayment to the International Monetary Fund (IMF). The FTSE 100 retreated 0.24% to 7,029.85 by the end of the session, having risen as high as 7
Read moreFTSE 100 movers: Royal Mail surges on Whistl funding crisis
11th May 2015 13:32
Royal Mail topped the risers after rival postal firm Whistl revealed it has halted deliveries because private equity backer LDC had pulled out of funding to help expansion efforts. Whistl said it was reviewing the viability of its London, Manchester and Liverpool due to challenging market conditions
Read moreBroker tips: Aberdeen, Centrica, Diploma
11th May 2015 11:11
Aberdeen Asset Management shares were hit by a downgrade at Societe Generale on Monday from 'buy' to 'hold' on the back of weaker fund flows in the first half. The bank has lowered its earnings per share (EPS) estimates for 2015 and 2016 by 4-6% and cut its target price from 490p to 485p. While SocG
Read moreTory win removes major political risk for Centrica, says Deutsche Bank
11th May 2015 10:01
Deutsche Bank has lifted its recommendation on British Gas owner Centrica from 'sell' to 'hold', saying that the risk that a Labour government posed to the group has now been removed. "The Conservative election victory removes a significant political risk from the UK energy retailers and Centrica in
Read moreHSBC upgrades Centrica, pointing to diminished political risk
8th May 2015 15:07
HSBC upgraded Centrica to hold from reduce on Friday and raised the target price to 300p from 240p, pointing to diminished prospects for direct government intervention in the supply market after the Conservative election victory. "The political risk has now reduced" said HSBC. There had been concern
Read moreFTSE 100 movers: energy, property and banks towering after Tory triumph
8th May 2015 13:26
British Gas owner Centrica topped the risers after Labour's defeat eliminated the possibility of an energy price freeze and tighter regulation, with SSE also making making substantial gains. Broker SocGen highlighted the opportinuty, noting utilities have underperformed the UK market by 9% and the E
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