London open: Greek worries continue to weigh on stocks
8th Jun 2015 08:56
UK shares started the morning lower amid continuing uncertainty around Greece's future and on the heels of mixed foreign trade numbers overnight from China. As of 09:05 the Footsie was lower by 5.55 points to 6,799.02. Over the weekend, Greek Prime Minister Alexis Tsipras faced accusations from the
Read moreLondon pre-open: FTSE to open little changed, Greece and Asia in focus
8th Jun 2015 07:32
Little change is expected on London markets early on, with only a small number of European data releases scheduled for the week ahead and the uncertainty around Greece's future providing an unsettling backdrop for investors. City sources predict the FTSE 100 will open around four points higher than
Read moreDrax market conditions continue to be challenging but expectations remain on track
8th Jun 2015 07:08
Power company Drax gave a trading update in which it said that while market conditions continued to be challenging, with weak gas markets resulting in the continuation of weak power prices, its expectations for the full year remained unchanged. The FTSE 250 group continued to experience a strong con
Read moreMonday broker round-up
18th May 2015 12:53
Lloyds: Investec downgrades to sell with 84p target. RBS: Investec reiterates buy with a 395p target price and Berenberg sell with a 250p target. Babcock International: Deutsche Bank reiterates buy and 1,150p target. Marks&Spencer: Deutsche Bank reiterates buy. Coca Cola HBC: Nomura reiterates re
Read moreDrax earnings hit by biomass spending as 2015 looks "challenging"
24th Feb 2015 08:11
Despite a significant improvement in revenues and profits during 2014, Drax said its outlook for 2015 was challenging due to the erosion of 'dark green spread' gross margin. Revenues at the power generation company rose 38% for the full year to £2.8bn and profit before tax improved significantly, mo
Read moreFTSE 250 movers: Petra Diamonds falls short of full-year profit expectations
26th Jan 2015 14:40
Diamond mine operator Petra Diamonds was trading lower after announcing that it may not meet analysts' expectations for full-year profits. Sales jumped by 16% in the first six months of the year to reach $214.8m. The increased sales in the period were in part thanks to the sale of two exceptional di
Read moreDrax rises after EU approves state aid for MGT Power
22nd Jan 2015 14:20
The European Union has given the green light for the UK government to provide financial aid to MGT Power's biomass power station in the North East of England. Sector peer Drax, which owns the largest coal-fired power station in the UK that is switching to burn wood pellets, was performing well on Lo
Read moreLondon close: FTSE sinks 2.5%, extends weekly decline to 6.6%
12th Dec 2014 16:38
UK stocks plummeted to levels not seen in nearly two months on Friday as weak global economic data and an ongoing sell-off of crude oil hammered market sentiment. The FTSE 100 settled at just 6,300.63 by the end of trade, down an eye-watering 2.5% on the day, with just four constituents on the index
Read moreDrax shares plunge on proposed plans to change biomass schemes
12th Dec 2014 12:27
Energy firm Drax shares plunged after the Department for Energy and Climate Change (DECC) announced planned changes to one of its subsidy schemes for biomass plants. In a report published on Friday, DECC said it intends to change the subsidy system because more biomass generation was being developed
Read moreLondon midday: Stocks tumble as oil prices extend losses, data disappoints
12th Dec 2014 11:36
Weaker-than-expected data from across the globe and a continued plunge in oil prices meant that there was no let-up in the sell-off for UK equity markets on Friday. Stocks were falling for the fifth day straight, with shares in the oil and gas sector faring the worst. London's FTSE 100 was down a s
Read moreDrax Group to pay £28m Ofgem penalty
28th Nov 2014 08:11
Drax Group, the owner and operator of a large power coal-fired station in North Yorkshire, has been ordered to pay a windfall settlement to energy regulator Ofgem. The power station owner was fined for failing to meet environmental obligations in the Community Energy Saving Programme set out by Ofge
Read moreSector movers: Electricity stocks lose their spark as SSE warns on profits
12th Nov 2014 14:32
Electricity stocks declined on Wednesday after British energy company SSE warned that profits would not grow this year after "a challenging business environment" in the first half. SSE, which provides gas, electricity and telecoms services, said adjusted earnings per share (EPS) for the year ending
Read moreDrax increases forward contracts to underpin full year forecasts
5th Nov 2014 09:03
Power station group Drax said its expectations for the full year remained unchanged in spite of the persistently challenging energy market. The group, which runs Drax Power Station in North Yorkshire, extended its contracted position, or forward sales, securing three more terrawatt hours (TWh) for 2
Read moreMonday broker round-up UPDATE
22nd Sep 2014 11:28
Avation: WH Ireland shifts target price from 200p to 206p and maintains a buy recommendation BAE Systems: UBS raises target price from 460p to 505p and reiterates a buy recommendation. Centrica: Goldman Sachs ups target price from 385p to 396p leaving its buy recommendation unchanged. Chariot Oil
Read moreLondon close: FTSE ends higher as investor sentiment improves
11th Aug 2014 16:59
- FTSE closes up 65.46 at 6,632.82 - Geopolitical tensions ease, sentiment improves - UK home loans rise in June techMARK 2,727.40 +1.23% FTSE 100 6,632.82 +1.00% FTSE 250 15,460.73 +1.43% UK stocks registered a decent gain on Monday as investors took advantage of the bargains to be had following
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