Monday broker round-up
16th Mar 2015 15:59
Bodycote: N+1 Singer downgrades to hold. Morrrison: Deutsche Bank lifts target to 210p from 190p and reiterates hold. Centrica: Deutsche Bank reiterates hold and 280p target price. Rio Tinto: HSBC downgrades to neutral. IGas Energy: Cannacord Genuity lowers target to 85p from 125p and reiterates
Read moreLondon close: Resource and utility stocks drag markets lower, data comes in weak
13th Mar 2015 16:45
UK stocks bounced off their lowest levels of the day by the close but still ended in the red as falling mining, energy and utility shares provided a drag. After touching a low of 6,713.50, London's FTSE 100 finished down 20.49 points (-0.3%) at 6,740.58, ending the week down 2.5%. Brent crude was t
Read moreLondon midday: Markets slip after weak construction data, utilities fall
13th Mar 2015 12:03
Stocks in London dipped into the red on Friday morning after data showed an unexpected decline in UK construction output, while utility shares weakened on political uncertainty. The FTSE 100 was down 0.35% at 6,737.10 by midday with SSE and Centrica among the worst performers. Construction output d
Read moreBritish Gas and Northern Powergrid appeal against Ofgem pricing rules
4th Mar 2015 08:20
Two energy companies have started an appeal process against electricity price guidelines imposed by regulator Ofgem. Centrica's British Gas and Berkshire Hathaway's Northern Powergrid have sought permission from the Competition and Markets Authority (CMA) to appeal against regulator Ofgem's November
Read moreFTSE 100 movers: Barclays and Glencore fall after annual results, Taylor Wimpey higher
3rd Mar 2015 13:44
Shares in Barclays fell after the bank set aside a total of £1.25bn for provisions to cover litigation costs related to ongoing probes into mis-selling PPI and rigging foreign exchange rates. The news came as Barclays reported a pre-tax loss of £532m for the fourth quarter. Commodities trader and mi
Read moreFriday tips round-up: Centrica, Rexam
20th Feb 2015 17:43
In an unexpected move, Centrica's new chief, Iain Coon, decided to cut the dividend pay-out for the first time in the company's history. It was reduced by 30% to its lowest since 2009. At approximately 4.2%, and down from 6.1%, the company's dividend yield is now almost the worst in the sector. That
Read moreSector movers: Utilities SSE and Centrica trading lower
20th Feb 2015 14:48
UK electricity stocks were trading lower again on Friday while the utility sector was subdued as energy provider Centrica extended losses after some gloomy annual results the previous session. Electricity stocks such as SSE have fallen over recent days after a Competition and Markets Authority (CMA)
Read moreFriday newspaper round-up: Investment banking probe, British Gas, Bank mis-selling
20th Feb 2015 06:52
Investment banks in the UK are facing a competition probe by the Financial Conduct Authority, according to the Financial Times. The regulator "could force banks to stop selling products and be more transparent about how they charge clients", the paper said. Centrica's British Gas has said it might r
Read moreLondon close: Greek developments, central bank uncertainty keep UK stocks flat
19th Feb 2015 16:33
It was another subdued finish for London's stocks on Thursday as the market continued to fluctuate at a 15-year high on the back of mixed newsflow about Greece and uncertainty regarding global monetary policy. The FTSE 100 finished the session down just 0.1% at 6,888.90. The index has stayed broadly
Read moreFTSE 100 movers: Centrica drops, oil and gas stocks lower
19th Feb 2015 14:14
With oil and gas prices plummeting, Centrica took dramatic action by slashing its dividend and future payout policy, warning that earnings for next year will be lower than expected too. Shares in the British Gas owner dropped sharply the company cut its dividend 21% to 19.2p, which will be a "major
Read moreLondon midday: Stocks recover as Greek hopes outweigh Fed uncertainty
19th Feb 2015 11:39
UK stocks had erased earlier losses by Thursday lunchtime as hopes about Greece outweighed uncertainty arising from the minutes of the latest Federal Reserve policy meeting. The FTSE 100 was up just 0.02% at 6,899.24 by midday, having bounced off an intraday low of 6,858.67 reached early on. The in
Read moreBroker tips: Centrica, SABMiller, BAE Systems
19th Feb 2015 11:33
The consensus stance of a 'hold' at Centrica is likely to see downwards pressure, according to Hargreaves Lansdown Stockbrokers, after the energy provider disappointed the market on Thursday. Analyst Keith Bowman said the dividend cut is a "major blow" to investors with the search for income yield b
Read moreCentrica dividend cut a "major blow" for shareholders, says Hargreaves Lansdown
19th Feb 2015 09:50
The consensus stance of a 'hold' at Centrica is likely to see downwards pressure, according to Hargreaves Lansdown Stockbrokers, after the energy provider disappointed the market on Thursday. Shares were down nearly 9% at 256.2p in morning trade after the British Gas owner slashed its 2014 dividend,
Read moreLondon open: Centrica and BAE lead markets lower after FOMC minutes
19th Feb 2015 08:43
Uncertainty surrounding the future of monetary policy in the States was weighing on UK stocks on Thursday morning, after the Federal Reserve showed it was wary of raising rates too soon. The FTSE 100 was down 0.3% at 6,879 early on, with energy provider Centrica and defence contractor BAE Systems le
Read moreCentrica slashes dividend policy 30% due to oil and gas prices
19th Feb 2015 08:00
With oil and gas prices plummeting, Centrica has taken dramatic action by slashing its 2014 dividend, future payout policy and capital expenditure plans, as well as warning that earnings for next year will be lower than expected. Directors decided to rebase the dividend policy down by 30%, starting
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