Centrica criticises Labour plans to freeze energy bills - UPDATE
25th Sep 2013 08:37
Utility group Centrica has criticised the Labour party for its plans to halt rising energy prices. On Tuesday, Ed Miliband pledged to freeze gas and electricity bills from May 2015 to January 2017 if his party were to return to power in 2015. That would equal average savings of £120 for househol
Read moreWednesday newspaper round-up: Iran, Eurozone, bond market
25th Sep 2013 07:00
President Barack Obama and his Iranian counterpart, Hassan Rouhani, backed a new drive for diplomacy over Iran's nuclear programme on Tuesday. The US president told the UN that there was "the basis for a meaningful agreement".Mr Obama said he was directing John Kerry, US Secretary of State, to "purs
Read moreLondon close: Fed uncertainty, US debt ceiling weigh on stocks
23rd Sep 2013 16:27
Concerns about the US economy weighed heavily on global stock markets on Monday as investors focused on comments from Federal Reserve officials and the ongoing debt-ceiling debate. The FTSE 100 finished down 39.06 points on the day at 6,557.37. "Those of the opinion that stock markets have oversho
Read moreSector movers: Centrica drag utilities lower after shelving gas storage plans
23rd Sep 2013 15:04
Centrica was weighing on the utilities sector on Monday after the British Gas owner announced plans to shelve two gas storage projects. The group said it has decided not to proceed with its new-build gas storage project at Baird in the UK Southern North Sea and to put its project at Caythorpe in Ea
Read moreFTSE 100 movers: Croda jumps on upgrade from Credit Suisse
23rd Sep 2013 14:22
Chemicals firm Croda was in the top spot after Credit Suisse upgraded its recommendation from 'neutral' to 'outperform' and hiked its target price from 2,600p to 3,000p. Telecoms giant Vodafone also gained after UBS raised its target price for the shares from 230p to 245p after including Kabel Deut
Read moreLondon midday: Stocks lower on German elections, US debt ceiling
23rd Sep 2013 11:18
Elections in Germany, an uncertain outlook for Federal Reserve monetary policy and a debate over the US debt ceiling weighed on markets on Monday morning, as traders shrugged off upbeat data from China and the Eurozone. The HSBC/Markit flash purchasing managers' index (PMI) for China's manufacturin
Read moreLondon open: Stocks slip despite Merkel victory in German elections
23rd Sep 2013 08:04
Stocks slipped into the red on Monday morning as investors digested this weekend's elections in Germany along with the uncertain outlook for monetary policy in the US. German Chancellor Angela Merkel's CDU/CSU party won 41.5% of the vote in the federal elections this weekend after winning 311 seats
Read moreLondon pre-open: Markets seen lower after German elections
23rd Sep 2013 07:35
Markets are expected to open slightly lower on Monday morning as investors digest this weekend's elections in Germany along with the uncertain outlook for monetary policy in the US. City sources predict the FTSE 100 will open down around eight points from Friday's close of 6,596.43. German Chance
Read moreCentrica pulls out of Baird and Caythorpe gas storage projects
23rd Sep 2013 07:02
Centrica has pulled out of its Baird and Caythorpe gas storage projects amid a challenging market. The company said it will not proceed with Baird in the UK North Sea or Caythorpe in East Yorkshire due to "weak economics for storage projects and the announcement by the UK government on September 4t
Read moreBritish Gas to raise prices to record high
20th Sep 2013 15:33
British Gas is reportedly planning to raise its prices by 100 pounds or eight per cent, bringing energy bills up to record levels. Britain's biggest energy company, owned by London-listed Centrica, is expected to make the announcement next month, sources told The Telegraph. The report comes after
Read moreCentrica buys US water heater renter
5th Sep 2013 12:11
Centrica has acquired a water heater rentals business to help its US arm Direct Energy expand its product range and double its profits in the next few years. Direct Energy has agreed to pay $30m (£19m) in cash plus working capital to purchase US-based home services business AWHR America's Water H
Read moreTuesday broker round-up
3rd Sep 2013 11:13
ASOS: Exane increases target price from 5000p to 6000p and keeps an outperform rating. Associated British Foods: Exane upgrades to outperform with a target price of 2400p. Balfour Beatty: Berenberg ups target price from 270p to 300p and retains its buy recommendation. Barclays: Berenberg takes ta
Read moreLondon open: Stocks slip as Syrian turmoil hits risk appetite
28th Aug 2013 08:21
The FTSE 100 dropped firmly into the red on Wednesday morning as escalating tensions between Syria and the West spurred a reduction in risk appetite amongst investors. UN weapons inspectors are expected to return to a site in Damascus near where the suspected chemical weapons attack happened last w
Read moreNewspaper round-up: G4S, Centrica, Mark Carney
25th Aug 2013 14:04
An activist investment fund is to double its stake in G4S to 10 per cent, fuelling speculation it will push for a break-up of the security contractor, the Sunday Times said. Cevian Capital, a Scandinavian fund chaired by former City Minister Lord Myners, is already G4S's second-biggest investor with
Read moreFriday broker round-up UPDATE
23rd Aug 2013 08:04
Afren: Canaccord Genuity cuts target price from 220p to 190p, while leaving its buy recommendation unaltered. AVEVA Group: Liberum Capital initiates with a target price of 2350p and a hold recommendation. Carillion: Numis reduces target price from 350p to 315p, while its hold recommendation remain
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