Centrica and Drax in new supply deal
5th Nov 2009 07:00
Energy provider Centrica has extended its supply agreement with power station operator Drax. Drax has committed to supply power to Centrica at a price set with reference to international coal prices and agreed fixed clean dark spreads, while Centrica will deliver matching carbon (CO2) allowances.
Read moreLondon close: Triple-digit losses for FTSE 100
28th Oct 2009 16:26
A poor performance from mining and financial stocks ensured that Footsie ended with triple-digit losses. Insurer Prudential, which saw a surge in US business but posted a fall in UK sales, was a heavy faller. The Pru lifted group-wide retail sales by 10% to £699m in the third quarter thanks largel
Read moreLondon afternoon: Stocks steady at lower levels
28th Oct 2009 14:10
Miners and financials remain a dead weight around Footsie's neck, but elsewhere, leading shares are slowly beginning to claw back losses. Prudential, which saw a surge in US business but posted a fall in UK sales, is still among the heaviest fallers. The Pru lifted group-wide retail sales by 10% to
Read moreSector movers: Pru drags insurance sector lower
28th Oct 2009 13:30
Life insurance stocks fall back after a dive in UK business sent Prudential's group insurance sales down 9% during the third quarter. The Pru reported insurance sales of £700m for the three months ended 30 September, with nine-month sales also dropping 9% to £2.02bn. UK retail sales slumped 22% to
Read moreLondon midday: Miners join financials on the slide
28th Oct 2009 12:05
Miners have joined financial stocks in the dog house as the Footsie dives below 5200 and threatens to carry on going to sub-5100 levels. With metal prices in retreat miners such as Xstrata, Lonmin and Kazakhmys have muscled aside insurer Prudential in the race to be worst performing Footsie stock.
Read moreLondon open: Shares start down
28th Oct 2009 08:21
London's blue chips have opened lower as investors consider a slew of big corporate announcements and rumours surrounding the British banking sector. The European Commission is expected to approve plans to break up and sell Northern Rock, according to press reports. The Independent is quoting a Br
Read moreLondon pre-open: Drab start expected
28th Oct 2009 07:42
London is set to open moderately lower, though traders will be kept busy analysing a slew of big corporate announcements. BG Group has reported a drop in third quarter pre-tax profit to £838m from £1.53bn a year ago, with nine-month profit down to £3bn from £4.20bn. The oil giant said net income fe
Read moreUS firm invests in Centrica's wind farms
28th Oct 2009 07:05
Gas supplier Centrica has received planning permission for the construction of a wind farm project off the coast of Lincolnshire. The 270 megawatt offshore wind farm has received final investment approval, and construction work on it will start in 2010. It will be situated eight kilometres offsho
Read moreSunday newspaper round-up: Lloyds, Stagecoach, National Express
25th Oct 2009 11:42
Lloyds will announce within days a controversial £23bn fundraising that will bolster its balance sheet and finally repair the damage caused by its disastrous takeover of rival HBOS, according to the Sunday Times. Stagecoach is putting the final touches to bank financing ready to launch a takeover b
Read moreDealings round-up: BlueBay duo cash in
18th Sep 2009 17:26
Two directors of BlueBay today took advantage of the recent tripling in its share price to trim their holdings in the fixed income fund manager. A secondary placing of shares saw Nick Williams, Chief Financial Officer, sell 1m shares and Alex Khein, Chief Operating Officer dispose of 2m shares. Th
Read moreLondon afternoon: Footsie consolidates gains
16th Sep 2009 14:30
The number of FTSE 100 constituents in the red today is in single figures as investors chase up share prices in the wake of relatively upbeat comments from Federal Reserve Chairman Ben Bernanke last night. Bernanke said the US recession 'is very likely over at this point,' prompting an advance by gl
Read moreSector movers: Brighter economic outlook lifts miners
16th Sep 2009 12:33
Mining stocks are advancing on optimism an improvement in global economic conditions will fuel demand for raw materials. Sentiment was lifted by US Federal Reserve chairman Ben Bernanke who said the world's largest economy had 'very likely' come out of recession. ENRC, Rio Tinto, Xstrata and Lonm
Read moreLondon midday: Footsie breaks through 5100
16th Sep 2009 11:58
Leading shares rose steadily throughout the morning session pushing the FTSE 100 index through the 5100 barrier. Mining stocks are responsible for much of the rise as metals prices head north after Federal Reserve Chairman Ben Bernanke said the US recession 'is very likely over at this point' in a s
Read moreVenture buckles and accepts Centrica offer
25th Aug 2009 13:57
Oil and gas producer Venture Production has finally accepted defeat in its bid to stave off Centrica's £1.3bn hostile bid. The group said it continues to believe the 845p a share offer still "substantially undervalues" the group but shareholders should accept if the offer goes unconditional, as Cen
Read moreLondon close: Stocks finish ahead
24th Aug 2009 16:23
London's leading shares have finished the day with comfortable gains as miners and banks stole the limelight. Mining giant Rio Tinto is reportedly in talks with the Aluminium Corporation of China (Chinalco) over co-operation in bauxite and alumina production. The Australian Financial Review newspap
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