Sector movers: Electricity and utility stocks lead the rise
2nd Jul 2014 15:30
Negative headlines failed to stop electricity and utility stocks from advancing on Wednesday. One week after regulator Ofgem referred the energy market for a full competition investigation to rebuild consumer trust, investors were largely shrugging off the news of new mis-selling scandals and devel
Read moreBritish Gas and Sainsbury's Energy in new mis-selling row
2nd Jul 2014 13:38
Centrica's British Gas and Sainsbury's have been hit by a new mis-selling scandal and are expected to return £500,000 to more than 4,000 affected customers. British Gas has, according to Sky News, already notified industry regulator Ofgem, which is apparently satisfied with the company's proposal t
Read moreEnergy competition probe an opportunity to "restore investor trust", says Investec
27th Jun 2014 12:59
Investec has said it was not surprised by Ofgem's move to refer the UK energy market for a full competition investigation, saying it should be a positive for the industry. The broker said its view on stocks in the sector remains unchanged despite the developments, as it kept 'buy' ratings on Drax a
Read moreBroker tips: Energy stocks, Housebuilders, Meggitt
27th Jun 2014 12:23
Investec has said it was not surprised by Ofgem's move to refer the UK energy market for a full competition investigation, saying it should be a positive for the industry. "We believe this is an opportunity to restore investor trust in an important part of the GB energy market, which has recently b
Read moreOfgem refers energy market for full competition investigation
26th Jun 2014 12:02
Ofgem is to refer the energy market for a full competition investigation, the regulator announced on Thursday, in a move to "rebuild consumer trust and provide confidence for investors". Following the proposal made in March, the Competition and Markets Authority (CMA) is now being tasked to "ensure
Read moreSunday newspaper round-up: Tesco, AstraZeneca, Asos
22nd Jun 2014 13:02
Some of Tesco's biggest shareholders have complained to the retailer's senior independent director (Sid) about its strategy and management, the Sunday Times said. An unidentified top 10 shareholder said it expressed its concerns with the Sid, Patrick Cescau, and not Tesco's Chairman, Sir Richard Bro
Read moreAnalysts see 10% downside from Ofgem warning to energy suppliers
11th Jun 2014 11:09
Analysts predict around 10% downside to earnings for the 'Big 6' energy suppliers after regulator Ofgem urged them to explain to consumers why falling wholesale prices had not been passed through to household bills. The regulator wrote to the energy suppliers, outlining that "failure to engage with
Read moreCostain awarded further contract with Centrica Energy at Barrow
9th Jun 2014 07:50
Costain Group, which provides engineering consultancy, construction and maintenance services, has landed a contract with Centrica Energy for the provision of Engineering Procurement and Construction (EPC) services on its Barrow Gas Terminals Project. The deal follows the Front End Engineering Desig
Read moreCentrica "could face Qatari takeover bid"
6th Jun 2014 12:12
British Gas owner Centrica could face a takeover bid from Qatar or Electricite de France (EdF), according to reports citing market talk. Qatari investors had approached Centrica shareholders with an offer to buy "big lines of stock" ahead of a potential cash bid for the group, various newspapers re
Read moreLondon midday: Stocks up ahead of non-farm payrolls, UK trade data worsens
6th Jun 2014 11:32
- Markets upbeat ahead of US jobs data - UK trade deficit at highest level since November - ECB still in focus - M&A speculation surrounds Smith & Nephew, Centrica techMARK 2,844.51 +0.70% FTSE 100 6,831.30 +0.26% FTSE 250 16,137.01 +0.88% A worse-than-expected increase in the UK trade deficit cou
Read moreLondon open: UK stocks rise ahead of US non-farm payrolls
6th Jun 2014 08:34
- ECB moves still in focus - Markets await jobs report this afternoon - Smith & Nephew pauses after strong run - Centrica lifted by bid speculation techMARK 2,834.66 +0.35% FTSE 100 6,830.78 +0.25% FTSE 250 16,044.41 +0.31% UK markets bounced off a two-and-a-half week low on Friday following anoth
Read moreFriday newspaper round-up: Juncker, Morrisons, Saga
6th Jun 2014 07:31
The frontrunner to head the European Commission has lashed out at Britain in a sign of sharply increasing tensions between Downing Street and Brussels over the race for the top job. Jean-Claude Juncker, the arch-federalist whose election would horrify David Cameron, told a private meeting of Europea
Read moreSector movers: Utility stocks sink as water group Pennon underwhelms
3rd Jun 2014 14:28
The gas, water and the multi-utilities sector was under the weather on Tuesday on the back of a poor reaction to the latest results from water utility and waste management group Pennon. Shares in Exeter-based Pennon, which owns South West Water (SWW), were down 3% at 760p in afternoon trade despite
Read moreSunday newspaper round-up: Lloyds Banking, Tesco, AstraZeneca
1st Jun 2014 14:03
Lloyds Banking Group has given TSB a £450m "dowry" as part of its £15bn initial public offering, the Sunday Telegraph reported. The small print of the TSB offer document reveals that Lloyds will pay up to £450m of integration costs if TSB changes its technology platform or is taken over. The unusual
Read moreFTSE 100 movers: Smith & Nephew rises on Stryker bid chatter
29th May 2014 15:35
Medical device maker Smith & Nephew was a high riser again after reports yesterday suggested that US peer Stryker was working on a bid for the firm. While the rumours were denied by Stryker, Smith & Nephew's share price was continuing to extend gains this morning after Credit Suisse said it sees "me
Read more