Centrica 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
Read moreLondon midday: Stocks power ahead as market cheers surprise Tory election win
8th May 2015 11:23
London stocks posted healthy gains on Friday as investors welcomed news that Prime Minister David Cameron's Conservative party is on track for a second term in power. The FTSE 100 was up 1.7% at 7,004.23 by midday, with banks, utility stocks and housebuilders pacing the advance. Lloyds Banking Grou
Read moreConservative victory in UK election will provide relief to utilities, says SocGen
8th May 2015 09:23
Utility stocks surged on Friday, with the threat of any energy price cap by the Labour party falling away as the Conservatives looked set for a surprise UK election win. Given that opinion polls had suggested a broadly 50/50 probability of either a Conservative or Labour government, concerns regardi
Read moreMarket overview: Stocks surge on election results
8th May 2015 08:56
1630: Close Stocks ended day sharply higher following the surprise win by the Conservatives. Various issues received a significant boost as traders readjusted their positions to the prospect that the current economic policy settings would be maintained and the implications that would have for those
Read moreFTSE 100 movers: Shire surges on earnings growth, RBS hit by weak revenues
30th Apr 2015 13:04
Shire surged after reporting that earnings rose 20% in the first quarter as sales at the Dublin-headquartered drug company overcame a sharp drop in its Intuniv attention deficit disorder drug and dollar headwinds. Royal Dutch Shell was trading higher after revealing a better-than-expected 56% drop i
Read moreFTSE 100 movers: Astrazeneca hit by rival success, Centrica higher on takeover preparations
28th Apr 2015 13:28
Astrazeneca was trading lower after the results of a study showed US rival Merck's diabetes drug met heart-safety requirements. The British drug-maker's own treatment for the disease was recently required by US authorities to provide information about the risk of heart failure. Standard Chartered wa
Read moreBritish Gas invests £50m in 350 new customer service jobs
27th Apr 2015 16:02
British Gas announced it will invest £50m to create 350 new jobs and improve its customer service. The money will be spent in training and new systems in the next three years, with the aim to reduce call waiting times. Ian Conn, chief executive of Centrica, British Gas' parent company, said: "Custo
Read moreLondon midday: Bounce in UK industrial data lifts stocks
27th Apr 2015 11:43
London equities returned to positive territory by midday as UK manufacturing data provided encouragement and earlier concerns about stalled Greek debt negotiations were assuaged by more positive rumours. German newspaper Bild suggested that Greece has revised its list of reforms and was ready to sus
Read moreLondon pre-open: Sharp gains expected in HSBC
27th Apr 2015 08:11
The Footsie is being called to start the day roughly flat on Friday´s closing level of 7,070.70. The news-flow surrounding corporate activity and M&A is front and centre before the opening bell. HSBC is expected to be the standout gainer on the top-flight index at the start of trading. That follows
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