Plexus wins £3.3m contract with Centrica
29th Mar 2011 11:37
Oil and gas engineering services firm Plexus has won a contract worth £3.3m with a consortium led by the Norwegian subsidiary of Centrica for the supply of its proprietary 'POS-GRIP' wellheads and mudline suspension systems for exploration activities offshore Norway. The consortium includes Norway-
Read moreCentrica sells Dutch business
24th Mar 2011 16:23
Centrica has completed its withdrawal from the retail supply of energy in Continental Europe by selling its Dutch business to Eneco. The electricity and gas customer supply business of Oxxio was sold to Eneco for €72m (£63m) in cash. Centrica has already sold similar businesses in Belgium and Sp
Read moreTuesday newspaper round-up: Power suppliers, Budget...
22nd Mar 2011 06:31
The Big Six household energy suppliers have been spared an industry-wide Competition Commission investigation, despite Ofgem finding evidence that they may be profiteering, manipulating their own figures and misleading consumers. Alistair Buchanan, Ofgem's chief executive, said: "Energy companies h
Read moreLondon close: Stocks hold on to gains
21st Mar 2011 16:17
The FTSE 100 remained broadly flat since 0900, holding on to gains made in early trading. Sentiment was boosted by signs of progress being made in the handling of the nuclear crisis. Two reactors at the Fukushima Daiichi nuclear power plant in Japan were successfully brought into cold shut down unde
Read moreLondon afternoon: Stocks consolidate gains
21st Mar 2011 14:53
Stocks have largely been in consolidation mode in the afternoon session after a strong performance this morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm will become number one, but both AT&
Read moreFTSE 100 movers: Barclays sells mortgage assets
21st Mar 2011 13:44
Barclays has sold a portfolio of property loans to CreXus Investment Corp, a commercial mortgage REIT, for $586m in cash. CreXus needs to sell shares to raise money via a share issue in order to buy the 30 commercial real estate assets. CreXus is managed by a subsidiary of Annaly Capital Managemen
Read moreLondon midday: Stocks back on the climb
21st Mar 2011 12:23
Footsie finished the morning 10 points or so below its high for the day after regaining impetus following a mild spell of profit taking mid-morning. Telecoms titan Vodafone is a high riser on the back of AT&T's $39bn bid for Deutsche Telekom's T-Mobile USA. If the bid is allowed, the enlarged firm
Read moreLondon open: Telecoms power forward on AT&T move
21st Mar 2011 08:50
Footsie has opened brightly with telecoms stocks powering ahead on the back of AT&T's huge $39bn bid for Deutsche Telekom's T-Mobile USA. Vodafone is top riser as analysts have wasted little time working out what it means in value terms for Vodafone's 45% stake in current US market leader Verizon
Read moreLondon pre-open: Footsie set for strong start
21st Mar 2011 07:39
The firmer trend seen towards the end of last week has continued this morning as the situation in Libya looks like it is coming to a head while repair work gets underway at the damaged Fukushima Daiichi power plant in Japan. City traders predict the top share index could open around 70 points highe
Read moreCentrica buys New York retail firm
21st Mar 2011 07:01
British Gas owner Centrica is to expand its retail presence in the US with the purchase of New York-based energy retailer Gateway Energy Services. The company is paying $90m in cash, including $13m of tax assets plus additional working capital, for Gateway. The New York-based company has more than
Read moreBroker tips: Power companies, Sainsbury, Aveva
18th Mar 2011 13:07
The unfolding events in Japan are likely to have shifted the public's perception of nuclear energy, but it is still very early to say exactly how this will affect the UK power sector, according to broker Matrix. "We have analysed a number of speculative global policy responses to show the impact on
Read moreBroker snap: Nuclear impact on UK power sector
18th Mar 2011 10:14
The unfolding events in Japan are likely to have shifted the public's perception of nuclear energy, but it is still very early to say exactly how this will affect the UK power sector, according to broker Matrix. "We have analysed a number of speculative global policy responses to show the impact on
Read moreJapan quake could mean higher energy prices for UK
14th Mar 2011 10:06
Friday's devastating earthquake and a second explosion at Japan's Fukushima Dai-ichi nuclear plant may send global gas and electricity prices higher. Analysts at broker Matrix warn that Japan may lose at least 5% of its generation capacity permanently. This will be made up by gas fired power, requi
Read moreSunday tips round-up: Centrica, CPP, WPP...
6th Mar 2011 11:19
Centrica is a buy despite the big unknowns of a looming reform of the country's electricity market - with crucial consequences for the potential returns of utility investors - and a possible Competition Commission inquiry. But ministers don't have much choice but to make decisions that keep the ene
Read moreLondon close: Blue chips rally near close
24th Feb 2011 16:40
Shares rallied near the close despite the ongoing turmoil in Libya as Saudi Arabia indicated it would boost production to meet any shortfall caused by the unrest. Libya only produces about 2% of global output, but traders are worried the turmoil could spread to bigger oil producers, such as Algeri
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