Exceptional items dent Centrica's profits
23rd Feb 2012 07:03
Gas and electricity provider Centrica said it put in a resilient performance in challenging conditions in 2011. Revenue edged up to £22.8bn from £22.4bn in 2010, ahead of market expectations of £21.9bn. The British Gas owner, which has been buying up its own energy producing assets of late to ensur
Read moreThursday preview: RBS, RSA, BATs, Capita, Centrica
22nd Feb 2012 18:43
The long awaited results from Royal Bank of Scotland (RBS) are due out on Thursday, but the editorialising over bankers' bonuses has already started, with reports emerging on Wednesday that the part-nationalised lender is planning on giving out massive pay-outs to members of its investment banking d
Read moreOfgem proposes utilities competition regulation
22nd Feb 2012 15:00
Ofgem has put forward proposals for mandatory sales of 25% of the annual electicity generated by the six largest utility firms in a bid to improve competition. The UK power market watchdog has suggested that the 'big six' be obligated to sell key products for delivery ranging from three months to
Read moreLondon pre-open: Stocks set to edge higher
22nd Feb 2012 07:33
City sources predict the FTSE 100 will open slightly higher, up 6 points from yesterday's close of 5,928 as investors balance relief over this week's Greek bailout deal with concerns over its ability to effectively deal with the economic situation. Anglo-Dutch integrated oil company Royal Dutch S
Read moreCentrica buys North Sea assets from Total
22nd Feb 2012 07:04
British Gas owner Centrica is to acquire the Total E&P UK's non-operated portfolio of producing oil and gas assets (and associated infrastructure) in the Central North Sea (CNS). The acquisition, worth $388m (£246m), is expected to add around 5% to Centrica's existing 2P (proven plus probable) rese
Read moreCiti may be exposed to painful losses on Centrica stake
16th Feb 2012 10:00
Morgan Stanley and Citi may have been left with potentially risky exposures to Danish telecoms company TDC and UK gas supplier Centrica, respectively. That after undertaking 'block trades' in shares of those two companies, the Financial Times (FT) reports, which may expose both banks to "painful lo
Read moreLondon midday: Stocks fall ahead of EU summit
30th Jan 2012 11:55
London's blue chip index had fallen close to its lowest levels of the day by lunchtime ahead of the EU summit in Brussels. Meanwhile, markets were still digesting the downgrade of five Eurozone nations on Friday and the talks between the Greek government and private creditors that are still ongoing.
Read moreLondon open: Banks weigh on Footsie lower early on
30th Jan 2012 08:18
The FTSE 100 slipped towards the 5,700 level in early trade, with the banks providing a drag as investors digested the downgrade of five Eurozone nations and the ongoing talks in Greece. Fitch announced late on Friday to downgrade the ratings of five Eurozone nations - Italy, Spain, Belgium, Cyprus
Read moreLondon pre-open: FTSE down as Greek deal is a no show
30th Jan 2012 07:20
City sources predict the FTSE 100 will open down 30 points from yesterday's close of 5,734 after the weekend failed to bring news of a debt solution in Greece. Outsourcing specialist Capita has acquired Fish Administration from private equity firm Inflexion. Capita is acquiring the company for £21
Read moreCentrica raises stake in North Sea field
30th Jan 2012 07:00
British Gas owner Centrica is to pay ConocoPhillips $223m for its non-operated interests in the gas- and oil-producing Stratfjord field (and associated satellites) in the North Sea. "Increasing our stake in Statfjord marks the latest stage in our drive to secure high quality sources of gas for our
Read moreE.ON announces cut in UK electricity prices
16th Jan 2012 15:05
German energy firm E.ON is to cut its standard electricity prices in the UK in a move which it says will trim 31 quid from the typical householder's annual bill. The 6% price cut for its 3.7m UK customers will not come into effect until February 27th, however, and the group has not instigated any s
Read moreCentrica's British Gas to cut electricity prices
12th Jan 2012 12:44
Centrica has announced its wholly owned subsidiary, British Gas, is to reduce its standard domestic electricity rate by 5%. The change comes into effect immediately and will, claims the firm, make it "the cheapest major standard electricity supplier, on average, in Britain." The price change affec
Read moreThursday broker round-up - UPDATE
22nd Dec 2011 08:21
Kingfisher: Credit Suisse reiterates outperform rating and 310p target. Next: Credit Suisse maintains outperform rating and 3,000p target. Marks & Spencer: Credit Suisse cuts target from 345p to 334p, neutral rating unchanged. Home Retail: Credit Suisse cuts target from 85p to 70p, keeps underper
Read moreThursday tips round-up: Super Group and Centrica
15th Dec 2011 07:17
The Telegraph's Questor column looks at Centrica, the owners of British Gas. It issued a profit warning last month on reduced gas consumption caused by the mild winter. It also has a troubles with the government which is demanding a more simple charging structure so customers can actually understa
Read moreWednesday broker round-up - UPDATE
14th Dec 2011 10:09
Tesco: ING downgrades to sell from buy. Marks&Spencer: ING downgrades to sell from hold. Morrison: ING upgrades from hold to buy. Rio Tinto: Credit Suisse reiterates outperform recommendation and 5,000p target. London Stock Exchange: Credit Suisse upgrades from underperform to neutral, 850p tar
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