Centrica 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
Read moreLondon open: Stocks fall as markets await Carney's forward guidance
7th Aug 2013 08:31
Markets opened with moderate losses on Wednesday morning as investors turned nervous ahead of the Bank of England's inflation report, the first under the governorship of Mark Carney. The heavyweight mining sector was again providing a drag on the FTSE 100 as metals prices fell, while a number of b
Read moreThursday newspaper round-up: RBS, Centrica, BP
1st Aug 2013 06:49
Royal Bank of Scotland (RBS) is expected to appoint Ross McEwan as its new Chief Executive as soon as Thursday, The Telegraph reported. McEwan, a New Zealander who heads the taxpayer-backed lender's retail operations in the UK, is considered the leading candidate to take over from Stephen Hester, wh
Read moreLondon close: Stocks rally on US data as eyes turn to Fed
31st Jul 2013 16:39
After a cautious start, the FTSE 100 rallied strongly in afternoon trade following some strong economic data from the US, though markets pulled back slightly from their intraday highs by the close as investors awaited a key policy announcement from the Federal Reserve. London's benchmark index fini
Read moreFTSE 100 movers: Investors toast solid annual results from Diageo
31st Jul 2013 15:11
Diageo, the beverages company behind the Guinness, Baileys and Smirnoff brands, was a high riser on Wednesday after delivering a solid five per cent increase in full-year net sales, driven by strength in the North American and spirits markets. Drinks company SABMiller was also making gains. Centric
Read moreLondon midday: Markets celebrate fall in Eurozone unemployment
31st Jul 2013 12:03
A fall in unemployment in Europe and some well-received corporate earnings pushed the FTSE 100 into positive territory on Wednesday morning, as traders showed optimism ahead of a policy announcement by the Federal Reserve later this evening. Some 24,000 fewer people were without a job in the Eurozo
Read moreBritish Gas owner Centrica benefits from cold snap this winter
31st Jul 2013 09:22
The unusually cold weather this winter helped drive an increase in revenue at Centrica, the energy company which owns British Gas, which hailed a 'robust' financial performance in the six months to June 30th. Group revenue from continuing operations was up 14% at £13.7bn after customers used more
Read moreLondon open: Markets flat as investors await FOMC, economic data
31st Jul 2013 09:06
Markets in the UK opened broadly flat on Wednesday morning as investors adopted a wait-and-see approach ahead of a policy announcement from the Federal Reserve. All eyes will be on the Federal Open Market Committee as its two-day meeting comes to a close this evening. While few actually think that
Read moreCentrica expands US gas supply through acquisition of Hess unit
30th Jul 2013 11:23
Centrica, the energy company which owns British Gas, is hoping to become the leading business-to-business (B2B) gas supplier in the Eastern US through the purchase of a unit of Hess Corporation. Centrica's North American subsidiary Direct Energy Business is to buy the New Jersey-based Energy Market
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