Broker tips: Brewin Dolphin, GKN, Drax
27th Jul 2016 11:04
(ShareCast News) - RBC Capital Markets upgraded Brewin Dolphin Holdings to an 'outperform' rating from 'sector perform' on Wednesday after the company reported its third quarter interims. The investment management and financial planning firm said total income rose 1% to £71.3m in the third quarter,
Read moreExane downgrades Drax to 'neutral'
27th Jul 2016 09:46
(ShareCast News) - Exane BNP Paribas downgraded Drax to 'neutral' from 'outperform' following a strong share price performance. The bank noted the stock has performed strongly over the past three months and particularly since the Brexit vote. The shares dropped 11% in the first two trading days afte
Read moreDrax earnings drop amid weak commodity markets
26th Jul 2016 09:17
(ShareCast News) - Drax Group posted a drop in underlying earnings for the first half of the year amid weak commodity markets and following the removal of the climate change levy exemption. In the six months ended 30 June, underlying earnings came in at £17m from £41m in the first half of last year,
Read moreTuesday preview: Drax reports first half interims
25th Jul 2016 10:23
(ShareCast News) - Power generation company Drax Group is expected to report a decline in first half earnings on Tuesday, reflecting low power prices and regulatory challenges. The group, which owns the Drax power station in North Yorkshire, has said trading conditions have remained challenging due
Read moreFTSE 250 movers: Phoenix Group firms on AXA Wealth deal
27th May 2016 15:30
(ShareCast News) - FTSE 250 was marginally firmer in late afternoon trade as UK traders wound down ahead of a long weekend, with few of today's in-the-news mid-cap stocks figuring among that index's top-10 risers. Shares in Phoenix Group Holdings were ahead as it agreed with AXA UK to buy AXA Wealth
Read moreDrax sees 2016 earnings at top end of expectations
1st Apr 2016 07:23
(ShareCast News) - Power company Drax said 2016 earnings would be at the top end of expectations after winning a new 12 month contract from National Grid. The power generator said last month its earnings range would be £132m-£161m. "Taking into account current estimates of the revenue and costs ass
Read moreSunday newspaper round-up: Budget, Sainsbury's, Virgin Media, Reuters
13th Mar 2016 15:18
(ShareCast News) - George Osborne look to grab as much as £20bn to fill shortfalls in his Budget this Wednesday, making deep cuts in public spending, an increased insurance premium tax and other new or increased duties and taxes, while also looking to cut taxes for North Sea oil producers. The Sunda
Read moreSSE and Centrica rally on JPMorgan upgrades
9th Mar 2016 10:51
(ShareCast News) - Utilities Centrica and SSE were among the top performers on the FTSE on Wednesday morning after JPMorgan Cazenove upgraded its ratings on the stocks. The bank said UK merchant utilities have been buffeted in recent years by a number of headwinds, with energy consumption down, stru
Read moreFTSE 250 movers: Meggitt keeps index flying in the black
23rd Feb 2016 15:01
(ShareCast News) - In contrast to its older sibling, the FTSE 250 was in the black on Tuesday afternoon, up 16.35 points (0.10%) to 16,305.15. Meggitt led the pack after it posted a small rise in 2015 pre-tax profit and lifted its dividend despite what it referred to as a challenging year. For the
Read moreDrax's results plunge after challenging year
23rd Feb 2016 08:54
(ShareCast News) - Despite severe market deterioration and difficult regulatory challenges, Drax said on Tuesday its EBITDA for the year to 31 December 2015 is in line with guidance. The FTSE 250 power company reported it had dropped from £229m in 2014 to £169m after being hit with the removal of it
Read moreCredit Suisse cuts targets for Drax, Centrica, and SSE
15th Feb 2016 10:23
(ShareCast News) - Lower energy prices and their impact on those for power meant the major UK power groups would need to carry out self-help measures, although the ability of Centrica and Drax to do so was underappreciated by markets, Credit Suisse said. The Swiss bank lowered its power price estima
Read moreFTSE 250 movers: Domino's leads index after upgrade
10th Feb 2016 15:26
(ShareCast News) - The FTSE 250 made some ground on Wednesday, with the second tier index up 252.74 points (1.65%) to 15,569.67 by mid-afternoon. Domino's Pizza Group led the risers after Credit Suisse upgraded the stock from 'neutral' to 'outperform' and added it to its Europe Small and Mid-Cap Foc
Read moreHigh Court rules against Drax and Infinis over green tax change
10th Feb 2016 15:23
(ShareCast News) - The UK High Court has ruled against London-listed power generation company Drax and renewable energy firm Infinis Energy, after they urged a review of the government's decision to remove the climate change levy exemption. The companies said the decisions had been made without a "r
Read moreFTSE 250 movers: Home Retail surges as Sainsbury's indicates another takeover offer
5th Jan 2016 14:31
(ShareCast News) - The FTSE 250 was in the black by mid-afternoon Tuesday, up 60.04 points (0.35%) to 17,182.19. Home Retail Group surged after Sainsbury's revealed it is still considering making a takeover offer for Home Retail after a November approach for the FTSE 250 retail group was rejected.
Read moreEuropean Commission launches in-depth probe of Drax's biomass plans
5th Jan 2016 11:15
(ShareCast News) - The European Commission will open an in-depth investigation into whether the UK's plans to support the conversion of part of the Drax coal power plant to biomass are in line with EU state aid rules. The EC, whose investigation will focus on UK estimates for the plant's performance
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