FTSE 250 movers: Hastings jumps into risers after market promotion
21st Dec 2015 14:46
(ShareCast News) - With only three and a half days of trading this week, investors were optimistic and grabbing a few pre-Christmas bargains with the FTSE 250 up 85.45 points (0.50%) to 17,191.32 by mid-afternoon Monday. It was also the first day Morrisons was traded on the second tier market, after
Read moreDrax powers higher on Goldman upgrade
14th Dec 2015 08:37
(ShareCast News) - Shares in power company Drax surged after Goldman Sachs upgraded the stock to 'buy' from 'sell'. It said the risk/reward was skewed to the upside following material underperformance, which it believes was due to declining gas and power prices in the UK. GS pointed out that since
Read moreRWE, Drax power ahead as UK wins approval to convert Lynemouth power station
1st Dec 2015 11:18
(ShareCast News) - Shares in German utility RWE and UK power company Drax rallied after the European Commission approved the UK government's support for converting the Lynemouth power station from coal to biomass. Lynemouth Power, a subsidiary of RWE Supply and Trading, operates the coal-fired plant
Read moreFTSE 250 movers: Telecom Plus follows market trend, Drax falls on warning from chief executive
30th Nov 2015 14:19
(ShareCast News) - The FTSE 250 started the week on a high, rising to 17,367.86 points by mid-afternoon Monday, up 102.76 points (0.60%). Telecom Plus followed the lead of the market overall, with shares rising over 5% on the day. Last week the company announced that statutory pre-tax profit for the
Read moreDrax operations director to step down
11th Nov 2015 09:58
(ShareCast News) - Drax's operations director Peter Emery will leave the company and cease to be a director at the end of the year as part of the group's transition to a new executive management structure. In addition, Drax said it has appointed Andy Koss, chief executive of its power generation
Read moreFTSE 250 movers: Miners slump on Barclays downgrade; DCC shines after interims
10th Nov 2015 14:52
(ShareCast News) - London's FTSE 250 index was down 0.5% to 17,027.36 at 1500 GMT as weakness in the mining sector proved a drag. Kaz Minerals and Vedanta Resources were under the cosh after Barclays downgraded its stance on the stocks and the broader European mining sector. The bank cut Kaz to 'und
Read moreBroker tips: Rolls Royce, Drax Group, Morrison, Tesco
10th Nov 2015 13:02
(ShareCast News) - Shares in engineering giant Rolls-Royce slid after Exane BNP Paribas slashed its price target on the stock to 685p from 840p to reflect an additional pullback in the civil aerospace margin and further pressure on shorter-cycle activities. Exane said Rolls, which it rates at 'neutr
Read moreDeutsche Bank downgrades Drax to sell on 'power price crunch'
10th Nov 2015 09:51
(ShareCast News) - As the "power price crunch" worsens, Deutsche Bank has downgraded power company Drax Group from 'hold' to 'sell'. The investment bank said on Tuesday that capacity concerns have been in the spotlight, with National Grid's notice of insufficient system margin (NISM) signalling a ti
Read moreTuesday broker round-up
10th Nov 2015 09:28
(ShareCast News) - Hochschild Mining: RBC Capital Markets upgrades to outperform, cuts target price to 85.00p. Drax Group: Deutsche downgrades to sell. Target price: 220.00p. Morrison Supermarkets: Deutsche downgrades to sell, cuts target price to 155.00p. Aggreko: Berenberg Bank upgrades to hold,
Read moreGoldman Sachs adds SSE to Conviction sell list, trims target on Centrica
5th Nov 2015 12:49
(ShareCast News) - Lower gas prices spell trouble for utilities companies in Europe, especially so for SSE which will see the pressure pile up on its dividend and undermine its premium rating, Goldman Sachs said. Oversupply in global liquid natural gas markets was set to drive European gas prices do
Read moreFTSE 250 movers: Oil bounce and Drax retrofit news fire mid-caps
4th Nov 2015 14:07
(ShareCast News) - After a strong start on Wednesday, the FTSE 250 lost momentum but by mid-afternoon was still in positive territory, helped by an oil price bounce. Lifted by a 40-point rise in crude oil, due to a strike in Brazil that is estimated to have put a 25% dent into Brazilian production,
Read moreDrax appoints Will Gardiner as finance director
1st Oct 2015 09:29
(ShareCast News) - Power generation company Drax has appointed Will Gardiner as finance director with effect from 16 November. Gardiner succeeds Tony Quinlan, who resigned as a director at the end of May. Michael Scott, who has been interim finance director since Quinlan's resignation, will continue
Read moreUK green policy under scrutiny as Drax quits £1bn carbon project
25th Sep 2015 08:09
(ShareCast News) - The UK government's stance on renewable energy was under scrutiny on Friday after power company Drax pulled out of a £1bn climate change project, saying policy u-turns were making it too risky to invest. Prime Minister David Cameron's pledge to lead the greenest government ever wa
Read moreBroker tips: Drax, Rio Tinto, Diageo
11th Sep 2015 13:49
(ShareCast News) - Drax was under the cosh after Goldman Sachs downgraded the stock to 'sell' from 'neutral' and slashed its price target to 230p from 300p. It said that as regards the outcome of the EU's deliberations on whether to permit the proposed fixed price CfD for Drax's third unit conversio
Read moreDrax slumps on Goldman downgrade
11th Sep 2015 09:08
(ShareCast News) - Drax was under the cosh after Goldman Sachs downgraded the stock to 'sell' from 'neutral' and slashed its price target to 230p from 300p. It said that as regards the outcome of the EU's deliberations on whether to permit the proposed fixed price CfD for Drax's third unit conversio
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