SSE buys Walney wind farm stake from DONG
23rd Dec 2009 14:48
Scottish and Southern Energy (SSE) is buying a 25.1% interest in the Walney offshore wind farm in the Irish Sea for up to £39m. The 367MW (megawatt) wind farm, being built 14km west of the Isle of Walney, is owned by Danish state-controlled oil and gas group DONG Energy, which will keep a 74.9% sta
Read moreLondon afternoon: Gains trimmed
23rd Dec 2009 14:16
London saw its gains pared over the lunch time session in predictably quiet trading. Around one-third of Footsie constituents are now in the red, compared to around one-fifth at midday. Included among the laggards is Cairn Energy, which gives back some of the chunky gains racked up over the first t
Read moreLondon midday: M&A activity keeps shares bubbling
23rd Dec 2009 12:14
The FTSE 100 index hit a 52-week high in the morning session as the pre-Christmas advance continued. Bank of England policymakers voted unanimously to keep interest rates at 0.5% and their programme of quantitative easing (QE) at £200bn when they met earlier this month, it emerged today. Mining gi
Read moreCentrica sells 50% wind farm stake for £50m
23rd Dec 2009 11:53
British Gas owner Centrica has agreed to sell a 50% equity stake in its 270 megawatt (MW) Lincs offshore wind farm for £50m in cash. The buyers, Danish state-controlled oil and gas group DONG Energy and Siemens Project Ventures, part of Germany's Siemens Financial Services, are expected to complete
Read moreBroker tips: Centrica, Logica, Aggreko
18th Dec 2009 13:13
Japanese broking house Nomura Securities has published a report on the outlook in 2010 for the European Utilities sector in which it identifies energy provider Centrica as one of its three top buys of the year. Centrica 'has become master of its own destiny through a combination of upstream acquisi
Read moreBroker snap: Nomura lauds Centrica
18th Dec 2009 12:55
Japanese broking house Nomura Securities has published a report on the outlook in 2010 for the European Utilities sector in which it identifies energy provider Centrica as one of its three top buys of the year. Centrica 'has become master of its own destiny through a combination of upstream acquisi
Read moreSunday newspaper round-up: Dubai, Yell, Banks
29th Nov 2009 12:08
Abu Dhabi is this weekend putting together a rescue package for Dubai, its debt-laden Gulf neighbour, in an attempt to restore calm in panicked international markets, according to the Sunday Times. The FT adds that Dubai's government is preparing a campaign to persuade the holders of a bond due for
Read moreLondon close: Footsie at one-week high
25th Nov 2009 16:06
Welcome results from Compass and investors' insatiable appetite for mining stocks helped London's blue chip index finish the session near the top of the day's range. A small improvement to the third quarter gross domestic product figure brought some relief. The Office of National Statistics said th
Read moreLondon afternoon: Compass leads London north
25th Nov 2009 14:01
A marginal improvement to the third quarter gross domestic product figures has lifted spirits in London, overshadowing some mixed corporate updates. The Office of National Statistics (ONS) said the UK economy shrank less than previously estimated in the third quarter, contracting by 0.3% between J
Read moreLondon midday: Footsie maintains lead
25th Nov 2009 12:09
Stocks are steady at lunchtime Wednesday as miners remain firmly on the front foot, while bid speculation is behind big gains at International Power. The hot money is on International Power at the moment, with investors betting that French utility GDF Suez will bid £6bn, or 400p-a-share, for the el
Read moreLondon close: Four-day rally is over
17th Nov 2009 16:31
The leading index finished near its worst levels of the session as weaker banks and mining heavyweights brought a 4-day winning streak to an end. The dollar's bounce off Monday's 15-month low hurt metal prices. Federal Reserve chairman Ben Bernanke said last night that the Fed will conduct policy i
Read moreCentrica nails Br Energy deal as EC clears EDF buy
13th Nov 2009 07:51
Centrica is free to complete its purchase of a 20% stake in British Energy from Electricité de France (EDF) following the European Commission's decision to clear EDF's purchase of the UK group's Belgian business, Segebel. The acquisition of the British Energy holding had been approved by the Office
Read moreFriday newspaper round-up: British Airways, Lloyds Banking, Tesco
13th Nov 2009 06:08
British Airways and Iberia, the Spanish flag carrier, have announced a deal to create Europe's largest airline. The merger by the two loss-making companies is expected to set off another round of cost-cutting at both to save £360m a year. Jobs are likely to be lost at head offices in London and Ma
Read moreLondon close: Footsie retreats after new high
12th Nov 2009 17:00
Footsie hit a new intra-day high for the year in mid-afternoon, but buyer interest tailed off near the close as US markets retreated on a mild resurgence by the dollar. British Airways was the top performer after the airline confirmed it is holding meetings with Spanish airline Iberia to discuss th
Read moreLondon afternoon: Footsie hits new 2009 peak
12th Nov 2009 15:21
Footsie has hit a new intra-day high for the year as the majority of blue-chips head higher. British Airways is the top performer after confirming that it is holding meetings with Spanish airline Iberia to discuss the possibility of a merger. 'The British Airways and Iberia boards are holding sepa
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