Centrica maintains gloomy forecast, acknowledges UK political risk
27th Apr 2015 07:33
British Gas owner Centrica maintained its previous forecast issued in February as UK political risk and a rocky global commodities market continue to hound the company. In a trading update to the London Stock Exchange on Monday, Centrica said: "The group continued to trade in line with the guidance
Read moreFTSE 100 movers: Anglo American, utility stocks surge
23rd Apr 2015 13:30
Anglo American, owner of jeweler De Beers, surged on Thursday as the mining giant cut its forecast for annual diamond production in order to avoid overproduction in the weaker diamond market. United Utilities, SSE and Centrica was making gains as investors sought refuge in defensive utility stocks.
Read moreUtilities, rail operators most exposed to UK election, Fitch says
17th Apr 2015 10:27
Utilities and rail companies are among the corporate sectors most at risk from regulatory or government policy shifts following the upcoming UK general election on 7 May, according to Fitch Ratings. With the Conservative Party having frozen rail fares, and Labour pledging to freeze energy prices if
Read moreLondon open: Stocks inch higher ahead of data, but Greek worries persist
14th Apr 2015 08:19
After an initial drop, London's Footsie bounced into positive territory on Tuesday morning, though gains were only modest as investors awaited key economic data and reacted to uncertainty in Greece. Reports that Athens is preparing for a debt default if it can't reach a deal with its creditors were
Read moreLondon pre-open: Stocks to fall ahead of economic data
14th Apr 2015 07:44
London stocks are expected to retreat further from their recent records on Tuesday ahead of some key economic data, including UK inflation and US retail sales. Uncertainty in Greece is also likely to weigh on sentiment on reports that Athens is preparing for a debt default if it can't reach a deal w
Read moreCentrica names former Aviva UK head as new British Gas MD
14th Apr 2015 07:17
Mark Hodges, the former board member and head of UK operations at Aviva, has been named as the new managing director at British Gas, owner Centrica said on Tuesday. The appointee, who will take up his new responsibilities on 1 June, will also join the Centrica board. Hodges, who spent over 20 years
Read moreE.On to pay a further £7.75m in fines
2nd Apr 2015 09:02
UK energy supplier E.On has agreed to pay a further £7.75m in fines for overcharging its customers, industry regulator Ofgem confirmed on Thursday. In November 2012, E.On paid a £1.7m penalty for a similar breach, although a spokesperson for the company claimed the "underlying cause" was different.
Read moreBroker tips: AG Barr, Centrica, ABF
24th Mar 2015 17:46
Analysts at Investec Securities upgraded their full year forecast for soft drink producer AG Barr, citing strong performances and acquisitions. On Tuesday, the FTSE 250 group said that its profit on ordinary activities, before tax and exceptional items, increased by 10% to £41.9m, as all the group's
Read moreLondon close: FTSE 100 pares session gains to end lower on low inflation woes
24th Mar 2015 17:01
London's FTSE 100 index underperformed its European peers on Tuesday as investors cut exposure on the back of inflation data from the UK and US. Inflation in the UK fell to zero while in the US, it moved out of the negative zone back into zero. With inflation in both countries at the same rate, defl
Read moreFTSE 100 movers: ABF hit by euro weakness, Centrica lower on election risk
24th Mar 2015 14:14
Primark owner Associated British Foods tripped lower after Swiss bank Credit Suisse lowered its earnings forecasts for the company citing euro weakness. "AB Foods doesn't usually feature in our regular FX updates on the sector, but given the severity of the euro's demise it should. For ABF the impac
Read moreCentrica cut to 'sell' by Deutsche Bank on UK election risk
24th Mar 2015 10:04
UK utility giant Centrica had its rating cut to 'sell' from 'hold' by Deutsche Bank who cited the upcoming UK elections as a risk. "The UK's energy utilities are facing the riskiest general election since 1992 and Centrica looks most exposed," said Deutsche Bank. It believes Centrica's shares could
Read moreLondon close: FTSE 100 books new all-time highs to close above 7000
20th Mar 2015 16:52
Dovish central banks and fading worries about Greece exiting the Eurozone propelled the London market to record fresh all-time highs on Friday. At Friday's close, the FTSE 100 index stood strong at 7022.51, up 0.8% on the day, off a touch from its session high of 7024.21. "The FTSE 100's landmark m
Read moreFTSE 100 movers: CRH higher on merger agreement, Next hit by downgrade
20th Mar 2015 12:53
CRH was the biggest gainer on the Footsie after building materials giants Lafarge and Holcim agreed upon terms for a merger. Shares in Tullow Oil surged after the West Africa-focused exploration outfit announced it had successfully negotiated for access to £450m in fresh financing. Morrison was als
Read moreMoody's downgrades Centrica as political pressures mount
20th Mar 2015 09:38
Moody's has downgraded the issuer rating and senior unsecured ratings of British Gas owner Centrica from Baa1 from A3. In a ratings action after the close of markets on Thursday, Moody's said its downgrade primarily reflected lower energy prices and generally poorer trading conditions for Centrica.
Read moreLondon close: Energy stocks lift markets ahead of Budget, as investors await Fed
17th Mar 2015 16:32
After dipping into the red around midday, UK stocks rallied into the close with the FTSE 100 finishing 0.5% higher on the back of decent gains in the oil sector ahead of Wednesday's Budget statement. Rumours about potential tax breaks for North Sea oil and gas producers were providing energy stocks
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