Germany's nuclear exit positive for renewables
31st May 2011 10:39
Germany's decision to exit all of its nuclear power plants marks a clear win for renewable energy, according to Matrix, which highlights a number of UK companies that could benefit. The German government have announced that it will close all 17 nuclear plants in the country by 2022, aiming to repla
Read moreSector movers: Land Securities boosts real estate trusts
18th May 2011 15:36
The real estate investment trust sector is the best performing sector after full-year results from Land Securities. Property giant Land Securities is towering above the rest of the FTSE 100 after it posted a sharp rise in profits and net asset value in the year to 31 March and predicted continued g
Read moreSector movers: Andes Energia, Drax boost electricity stocks
11th May 2011 15:43
Argentinian energy firm Andes Energia is providing a spark in the electricity sector after profits leapt 450% in 2010, due primarily to the performance of its stake in an electricity distributor. The group recorded a profit before tax of $22m on revenue of $171m for the year. This compared to a pr
Read moreDrax cites improving commodity markets
11th May 2011 13:13
Coal-fired power station operator Drax said that commodity market trading has improved in the year-to-date and the numbers remain on target for 2011. "We have taken advantage of better dark green spreads to strengthen our contracted position. This, together with continued good operating performance
Read moreFTSE 250 movers: Kesa among the fallers
5th Apr 2011 16:38
UBS comments have hit sentiment at consumer electronics retailer Kesa Electricals, the owner of the Comet chain, after it cut its forecasts to reflect weaker trading in the UK after the surprise profit warning from peer Dixons. A 'hold' rating was kept but the target price was lowered to 125p, from
Read moreDrax celebrates tax deal
5th Apr 2011 08:18
Coal-fired power station operator Drax is to get £180m cash in tax relief after reaching an agreement with the UK tax man. Drax and Her Majesty's Revenue and Customs (HMRC) have settled an issue relating to Drax's Eurobond financing structure. As a result, £117m of cash ring fenced on the balance
Read moreSector movers: Drax provides spark to electricity stocks
28th Mar 2011 17:17
Coal-fired power station operator Drax lifted the electricity sector higher despite having its target price cut by broker Matrix. Shares have slipped in the last week after the government announced a carbon price floor on electricity generation in its budget on Wednesday. Nevertheless, the broker
Read moreBroker tips: Cairn, C&W Worldwide, Drax
28th Mar 2011 12:47
UBS upgrades Cairn Energy from 'neutral' to 'buy', as it is encouraged by the potential from a number of prospects in Greenland. The target price for the Edinburgh-based oil and gas group is raised from 440p to 510p, a 20% (85p) premium to net asset value (NAV) for what the broker thinks will be th
Read moreBroker snap: Still optimistic at Drax
28th Mar 2011 11:53
Coal-fired power station operator Drax has had its target price cut by broker Matrix after the government announced a carbon price floor on electricity generation in its budget last week. "The carbon price floor will start at around £16 per tonne of carbon dioxide [from 1 April 2013] and follow a l
Read moreSector movers: ENRC leads miners higher
23rd Mar 2011 17:37
The mining sector was the best performing sector Wednesday, helped higher by strong gains from the blue chips. Kazakhstan-based mining giant ENRC announced that underlying profits more than doubled last year. Shares in Kazakhmys, Xstrata, Rio Tinto and Antofagasta rose in sympathy. The industrial
Read moreSector movers: AT&T move gives telecoms sector a boost
21st Mar 2011 16:13
The mobile telecommunications sector is performing well led by blue chip Vodafone, which is rising 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&T and Verizon Wireless - in which Vodafone has a 45% s
Read moreSector movers: Nuclear closures lift electricity shares
18th Mar 2011 14:33
Electricity stocks are on the rise as the investors assess the impact of the Japanese nuclear crisis on the UK power sector. Broker Panmure Gordon has said that higher gas and electricity prices - as a result of plant closures in Japan and Germany - would be most obviously positive for Drax, labell
Read moreFTSE 250 movers: Go-Ahead boosted on Southeastern news
18th Mar 2011 14:15
Rail and bus operator Go-Ahead is among the best performers Friday after it announced that it will continue to operate the Southeastern rail franchise in Kent until 2014, through its joint venture with French transport group Keolis. London and south-east housebuilder Berkeley Group continues to ben
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
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