London pre-open: London to stop bleeding
23rd Sep 2011 07:20
London's top share index is set to open modestly firmer this morning, posing a dilemma for traders, who have to determine whether this is just a pause for breath before the market hurtles off on the next leg of its downhill journey, or the signal to pick up some bargains. City sources predict the F
Read moreUPDATE: Wednesday broker round-up
21st Sep 2011 08:52
Inmarsat: Citi downgrades to hold from buy. Inmarsat: Morgan Stanley downgrades to underweight from neutral. Imperial Tobbacco: Investec retains buy. Carnival: Credit Suisse confirms neutral rating and 2,357p target. Drax: Credit Suisse cuts target from 400p to 350p, underperform rating maintain
Read morePlexus wins new Centrica contract
6th Sep 2011 09:16
Plexus Holdings, the engineering company which serves the oil and gas industries, has won an £800,000 contract with Centrica Energy. Plexus will now supply Centrica with wellhead equipment, a mudline casing support system and services for oil and gas exploration activities in the Central and Northe
Read moreTuesday tips round-up: Morgan Sindall, Centrica, Imperial Tobacco
9th Aug 2011 06:48
Cautious optimism is about the best one can expect from a business such as Morgan Sindall, so heavily exposed is it to a range of activities in construction. The shares have been trending down since the start of the year and sell on less than eight times' earnings and have the support of a yield app
Read moreFriday newspaper round-up: Vodafone, global slump risk, BP
29th Jul 2011 06:05
Vodafone will pay a £2bn special dividend next year after its patience in hanging on to a minority stake in America's biggest mobile network paid off. The British company, which owns a 45 per cent stake in Verizon Wireless, will receive £2.8bn in dividend payments after Verizon Communications, the m
Read moreLondon close: Late rally lifts stocks
28th Jul 2011 16:41
Stocks finished in positive territory after a choppy day, with US economic data helping to spark a late rally. Weekly Initial jobless claims in the world's biggest economy fell below 400,000 for the first time since April and homes sales data also came in ahead of expectations. The rush of company
Read moreLondon midday: Stocks fall back after news flurry
28th Jul 2011 12:00
Stocks are in the red after this morning's splurge of company updates. Anglo-Dutch integrated oil company Royal Dutch Shell fell after it reported net income on a current cost of supplies (CCS) basis, excluding specific items, of $6.6bn, compared to $4.2bn in the second quarter of last year. The fi
Read moreHigher supplementary tax hurts Centrica's profit
28th Jul 2011 08:35
Energy giant Centrica reported a 24% drop in half-yearly earnings, as the company wrestled with higher supplementary tax rates and challenging economic conditions in the United Kingdom, but said it is on course to deliver full year earnings growth. "Economic conditions are increasingly challenging,
Read moreLondon close: Stocks slump after giving up rally
27th Jul 2011 16:49
Stocks finished deep in the red, giving up an earlier rally, after a poor showing on Wall Street. Energy supplier Scottish & Southern Energy suffered after going ex-dividend. Meanwhile, sector peer Centrica also fell, albeit by a lesser extent, after utilities firm British Gas (owned by Centrica)
Read moreCredit Suisse: 50% chance of US debt rating downgrade
27th Jul 2011 14:16
Credit Suisse said there is a 50% possibility of a ratings downgrade of the US sovereign debt even if the debt ceiling is raised by the deadline on August 2 but expects the move to have low impact. The brokerage firm played out two alternative scenarios, saying an extended period of no rise in the
Read moreLondon midday: Stocks still stuck lower
27th Jul 2011 12:03
The top share index nestles slightly in negative territory, perhaps waiting for US trading to start before striking into the blue. Energy supplier Scottish & Southern Energy is suffering after going ex-dividend. Meanwhile, sector peer Centrica also fell, albeit by a lesser extent, after utilities
Read moreOfgem fines British Gas £2.5m
27th Jul 2011 10:32
Ofgem slapped a £2.5m fine on Centrica's British Gas after the UK energy regulator found that the company had failed to deal with customer complaints properly. An investigation led by Ofgem found that UK's largest household energy supplier failed to re-open unresolved customer complaints and did n
Read moreLondon open: SSE leads the fallers in early trading
27th Jul 2011 08:31
The top share index saw a sharp decline in early trading, as the debt crisis in the US continues to weigh on market sentiment. Energy supplier Scottish & Southern Energy was the heavy faller, tumbling 4.85% after going ex dividend. Meanwhile, sector peer Centrica also fell lower, albeit by a les
Read moreBroker tips: Centrica, Howden Joinery, Beazley
22nd Jul 2011 12:19
Credit Suisse recommends to buy UK energy giant Centrica at current levels, saying that its full-year earnings estimates are ahead of consensus, reflecting its bullish view on supply margins within British Gas Residential Energy (BGRE). In regards to BGRE, Credit Suisse forecasts a top-of-the-rang
Read moreBroker snap: Centrica to 'outperform', says Credit Suisse
22nd Jul 2011 11:32
Credit Suisse recommends to buy UK energy giant Centrica at current levels, saying that its full-year earnings estimates are ahead of consensus, reflecting its bullish view on supply margins within British Gas Residential Energy (BGRE). "Regardless of whether Centrica's growth projects (nuclear an
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