Drax tumbles as Kwarteng questions sustainability of biomass fuel
11th Aug 2022 08:25
(Sharecast News) - Drax tumbled on Thursday after UK business secretary Kwasi Kwarteng said the company's imports of US-made wood pellets to be burnt for energy wasn't sustainable.
Read moreDrax first-half profit grows, full-year expectations backed
26th Jul 2022 08:07
(Sharecast News) - Renewable power generator Drax backed its full-year expectations on Tuesday as it posted a rise in first-half profit amid solid demand.
Read morePrime Minister not planning to extend windfall tax to electricity generators
11th Jul 2022 13:12
(Sharecast News) - Electricity generators will be spared from the government's tax net, a spokesman for the Prime Minister said.
Read moreDrax upgrades FY profit expectations, shares power ahead
7th Jul 2022 10:02
(Sharecast News) - Drax shares rallied on Thursday as the renewable power generator upgraded its full-year earnings expectations after agreeing to keep its coal-fired power plan units open this winter.
Read moreJPMorgan puts Drax on 'positive catalyst watch', expects guidance upgrade
5th Jul 2022 12:29
(Sharecast News) - JPMorgan Cazenove put Drax on "positive catalyst watch" on Tuesday, saying it expects the renewable energy company to upgrade guidance at its interim results.
Read moreSector movers: Miners gain on news of easing in China lockdowns, talk of trade tariff reductions
6th Jun 2022 22:45
(Sharecast News) - Shares in Industrial Metals & Mining names were among the best performers on the FTSE 350 at the start of June as UK investors reacted to news that Chinese authorities were easing Covid-19 restrictions.
Read moreJP Morgan reiterates positive stance on UK energy
26th May 2022 10:36
(Sharecast News) - JP Morgan has reiterated its positive stance on the UK energy sector, despite the likely imposition of windfall taxes.
Read moreCredit Suisse downgrades Drax on risk of lower gas prices, windfall taxes
13th May 2022 11:41
(Sharecast News) - Credit Suisse has downgraded Drax Group to 'underperform', on expectations that the power generator could face windfall taxes.
Read moreDirector dealings: Litigation Capital chair invests, Drax CEO sells shares
4th May 2022 13:28
(Sharecast News) - Litigation Capital Management was on the buying side of things on Wednesday, after its chairman spent more than £0.1m on a share purchase.
Read moreDrax confident in full-year performance after strong quarter
27th Apr 2022 08:04
(Sharecast News) - Drax Group said in an update on Wednesday that, after a strong first quarter, it expected 2022 adjusted EBITDA to be around the top end of the current range of analyst expectations.
Read moreDrax earnings fall as it plans £3bn of investments
24th Feb 2022 08:42
(Sharecast News) - Drax Group reported a fall in adjusted EBITDA to £398m in its 2021 results on Thursday, from £412m in 2020.
Read moreSunday newspaper round-up: Omicron, Cineworld, Imagination Technologies
19th Dec 2021 17:51
(Sharecast News) - Omicron may yet force the health secretary to impose tougher Covid restrictions in England before Christmas. In remarks to the BBC's Andrew Marr Show, Sajid Javid said: "there's a lot of uncertainty, there are gaps in the data, but we must work with the data we've got, we mustn't let perfection be the enemy of the good." The government's Sage committee has warned that hospitalisations might peak at between 3,000 and 10,000 per day unless action is taken. - Guardian
Read moreDrax appoints Worley to begin FEED study on BECCS project
15th Dec 2021 07:57
(Sharecast News) - Power generation firm Drax said on Wednesday that it had appointed Worley Europe to begin a front-end engineering design (FEED) study for its bioenergy with carbon capture and storage (BECCS) project.
Read moreDrax subsidiary acquires pellet sales contract book of Pacific BioEnergy
14th Dec 2021 07:50
(Sharecast News) - Power generation business Drax Group said on Tuesday that its Pinnacle Renewable Energy subsidiary had agreed to acquire the pellet sales contract book of Pacific BioEnergy Corporation, adding 2.8 megatonnes of orders for sustainable biomass supply to high-quality counterparties in Japan and Europe.
Read moreCiti downgrades Drax on less attractive risk/reward
2nd Dec 2021 09:33
(Sharecast News) - Citi downgraded its stance on Drax on Thursday to 'neutral' from 'buy' as it said the risk/reward was less attractive following a 50% share price rise over the last six months.
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