Labour's energy bill freeze will have 'unintended consequences', says Centrica CEO
14th Dec 2014 09:43
There will be "unintended consequences" from Labour's energy freeze plan as a result of the decline in the price of oil, Sam Laidlaw, the outgoing chief executive of Centrica has warned. Ed Miliband, the Labour party leader, has stressed his party intends to freeze energy costs if they win the gener
Read moreOfgem fines Centrica's British Gas £11.1m
4th Dec 2014 08:52
The UK energy watchdog has fined Centrica's British Gas £11.1m for failing to hit energy savings and carbon emission reduction targets on time. Ofgem said British Gas would pay £11.1m to benefit vulnerable customers after a regulatory investigation found the company failed to meet its environmental
Read moreThursday newspaper round-up: Scotland, GSK, BG, Stagecoach
27th Nov 2014 02:04
Scottish MPs will be entitled to vote on UK budgets even though control over income tax will soon be transferred over to the Edinburgh parliament, Labour has revealed shortly before the publication of a cross-party devolution deal on Thursday, the Financial Times found. The Smith Commission, charged
Read moreSunday share tips: Centrica, Concha, UDG Healthcare
23rd Nov 2014 16:51
Investors should avoid Centrica shares, Questor advised in the Sunday Telegraph. The British Gas owner has been hit by political uncertainty following Labour leader Ed Miliband's pledge to freeze energy prices, as well as warmer weather and falling oil prices at its exploration business. After three
Read moreSector movers: Mining stocks rally on Chinese stimulus, but defensives fall
21st Nov 2014 15:20
A surprise interest-rate cut in China saw equity markets surge on Friday with cyclical mining stocks benefiting and defensive stocks feeling the brunt from an increase in risk appetite. Cyclical sectors are those that are closely and positively correlated to economic activity and, in the case of the
Read moreFTSE 100 movers: Miners jump as China cuts interest rates, oil stocks rise
21st Nov 2014 15:03
Mining stocks were dominating the risers list on the FTSE 100 on Friday after China's central bank surprised with an interest-rate cut in an effort to boost growth, raising hopes that the top metals consumer will be able to avert a hard landing. Anglo American, Fresnillo, BHP Billiton, Rio Tinto, An
Read moreFriday tips round-up: Centrica, Babcock
21st Nov 2014 13:41
There are far too many sources of uncertainty around integrated energy company Centrica right now. The company's businesses have been hit by warm weather and declining oil and gas prices. An improvement can be expected next year, but it will be largely offset by a change in the tax regime governing
Read moreLondon midday: UK stocks surge on PBoC stimulus, ECB hopes
21st Nov 2014 12:00
UK stocks jumped on Friday as resources shares raced ahead after China's central bank surprised the market with its first interest-rate cut in two years in an effort to boost growth. After falling for the last two sessions, the FTSE 100 was up 0.8% at 6,733 by midday with the heavyweight mining and
Read moreLondon open: Oil and mining stocks push FTSE higher early on
21st Nov 2014 08:35
The UK stock market rebounded on Friday morning after two days of declines, as mining shares recovered after recent losses. Concerns about slumping iron-ore prices - currently trading at five-year lows - and slowing growth in China weighed heavily on the heavyweight resources sector in London on Thu
Read moreLondon midday: UK stocks fall as global PMI data dampens sentiment
20th Nov 2014 11:45
The UK stock market slumped on Thursday as a wave of disappointing economic data and speculation about a looming interest-rate hike in the States prompted investors to tread cautiously. London's FTSE 100 was down 0.7% at 6,649 by midday, with the heavyweight mining sector providing a drag as figures
Read moreLondon open: Manufacturing PMIs, FOMC minutes push UK stocks lower
20th Nov 2014 08:31
Weak economic data from China and the Eurozone and a hawkish set of Federal Reserve minutes pushed UK stock markets lower on Thursday morning. The FTSE 100 in London was trading down 0.3% at 6,675 in early deals. The preliminary HSBC purchasing managers' index (PMI) for Chinese manufacturing releas
Read moreLondon pre-open: Stocks set to slip after FOMC minutes
20th Nov 2014 07:58
UK stocks are expected to fall slightly on Thursday morning as investors react to the latest set of minutes from a policy meeting at the Federal Reserve. City sources predict the FTSE 100 will open around eight points lower than Wednesday's close of 6,696.60. Minutes from the late-October Federal O
Read moreCentrica warns on profits for full year and 2015
20th Nov 2014 07:06
British Gas and Direct Energy owner Centrica has warned that its full year and 2015 earnings will be lower than previously guided due to "a number of challenges" including low oil and gas prices, cold weather in the US, warm weather in the UK and boiler inspections at its power stations. The energy
Read moreCentrica's managing director of international downstream steps down
31st Oct 2014 09:22
Centrica's managing director of the international downstream division will leave the company at the end of the year. Chris Weston leaves the owner of British Gas after 11 years, leading a number business in North America and in the UK. The company said Ian Peters, currently managing director Britis
Read moreCharles Stanley reaffims 'hold' on Centrica
20th Oct 2014 16:44
On Monday, British investment management firm Charles Stanley reaffirmed its 'hold' status for Centrica shares. The energy provider reported first half figures in line with lowered expectations reflecting the challenges facing the company on both sides of the Atlantic, Charles Stanley wrote in a not
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