National Grid pulls out the stops after Superstorm Sandy
15th Nov 2012 07:14
Utilities group National Grid said restoration expenses following Hurricane Sandy, excluding those related to the Long Island Power Authority (LIPA), are not expected to exceed 100m pounds. "I am pleased with the progress we made in the first half of the year: operating our networks safely and reli
Read moreFTSE 100 movers: BP beats forecasts
30th Oct 2012 15:28
Oil giant BP gained ground after profits came in well ahead of forecasts in the third quarter and the company moved early on a dividend increase to nine cents per share (up 12.5%). In its first quarterly announcement since the recent deal with Rosneft, BP reported a clean net income of $5,170m on
Read moreWednesday broker round-up - UDPATE
10th Oct 2012 08:22
African Barrick Gold: Nomura cuts target from 670p to 605p, buy rating kept. APR Energy: JPMorgan Cazenove initiates coverage with overweight rating and 1,005p target. ARM Holdings: Credit Suisse initiates coverage at neutral. ASOS: Seymour Pierce keeps hold rating and 1,900p target. Avanti Com
Read moreFTSE 100 movers: Sainsbury rises while Tesco drops
3rd Oct 2012 15:48
International Airlines Group (IAG) said September traffic figures had been boosted by heavy promotional activity by British Airways during and after the Olympic Games. "This has positively impacted our volumes in both premium and non-premium cabins, the carrier British Airways' September traffic, m
Read moreNational Grid agrees to extend deal with Long Island Power
3rd Oct 2012 13:16
Utilities group National Grid has agreed with Long Island Power Authority to modify and extend their power supply agreement for at least another 12 years. National Grid owns and manages a number of power plants on Long Island, with a generation capacity of 3,700 megawatts. The company has been sup
Read moreFTSE 100 movers: Miners rise as utilities sink
21st Sep 2012 14:20
Miners were generally performing well on Friday, clawing back some of yesterday's losses, but utilities are out of favour, especially National Grid, after JP Morgan Cazenove downgraded the stock to "underweight" from "neutral". Traders are still drumming their fingers, waiting impatiently for the
Read moreLondon midday: Stocks tread water
21st Sep 2012 11:50
After a bright start London reversed course shortly after 10:00 and the top-share index is now little changed. Miners are still going well, clawing back some of yesterday's losses, but utilities are out of favour, especially National Grid, after JP Morgan Cazenove downgraded the stock to "underweig
Read moreMonday broker round-up
10th Sep 2012 09:13
Barclays: UBS raises target from 205p to 235p, buy rating unchanged. Chariot Oil & Gas: Peel Hunt downgrades to sell, target cut from 150p to 40p; Merchant Securities downgrades to sell, target cut from 232p to 29p. Debenhams: Seymour Pierce raises target from 80p to 100p, hold rating kept. Euras
Read moreLondon close: Stocks erase losses on ECB, Fed speculation
24th Aug 2012 16:43
- ECB considering target bands for yields - Merkel wants Greece to stay in Eurozone - UK Q2 GDP revised up. The Footsie rallied in late trading to finish flat on Friday after rumours of a European plan for bonds yields. According to Reuters, the European Central Bank (ECB) is looking at setting yi
Read moreFTSE 100 Movers: Miners drag footsie lower
24th Aug 2012 15:38
Mining stocks were heavy fallers with Kazakhmys, Rio Tinto, ENRC, Antofagasta, Anglo American, Vedanta, BHP Billiton and Randgold falling sharply, tracking various metal prices lower. ??Anglo American dropped after Jefferies downgraded the stock this morning from 'buy' to 'hold' despite yesterday'
Read moreBroker tips: HSBC, Anglo American, National Grid
24th Aug 2012 14:41
Investec has retained it 'hold' recommendation and 590p target price for global banking giant HSBC, highlighting the recent rating outlook downgrade by Standard and Poor's and settlement rumours in the US. "Whereas we acknowledge that neither of these developments are helpful, there really are much
Read moreLondon midday: Stocks down despite revision to UK GDP
24th Aug 2012 11:46
- UK Q2 GDP revised upwards - Greece in focus as Samaras meets Merkel - US QE hopes fading fast UK stocks were volatile in morning trade on Friday but remained firmly in negative territory in spite of some upwards revision to second-quarter gross domestic product (GDP) data in the UK. The state of
Read moreBroker snap: National Grid is a top utility pick, says Nomura
24th Aug 2012 11:44
Nomura has reiterated its positive stance about utilities group National Grid, saying that the firm remains a 'compelling growth story [with] rising visibility'. National Grid's regulated UK businesses, which make up around 61% of total earnings before interest and tax (EBIT), are in the process of
Read moreFriday broker round-up
24th Aug 2012 09:34
African Minerals: Jefferies cuts target from 800p to 550p, buy rating kept. Anglo American: Jefferies downgrades from buy to hold, 2,200p target kept. Ashmore: Citigroup downgrades to sell, target cut from 305p to 300p. Berendsen: Investec maintains buy rating and 570p target; Seymour Pierce down
Read moreFTSE 100 movers: Xstrata rises despite Glencore CEO's comments
21st Aug 2012 14:45
Shares in Xstrata were higher throughout the day despite Glencore CEO Ivan Glasenberg saying that the proposed merger of the two companies is "not a must-do deal". Speaking to Dow Jones Newswires, he said: "If we don't do it now, we can do it in the future." Glencore was up after beating profit es
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