London open: Strong start as Footsie climbs back over 5,200
10th Aug 2011 08:32
Just three stocks were in the red early on, as the Footsie attempted to claw its way back after a week of turmoil in global markets. The US Federal Reserve last night pledged to freeze short-term US interest rates for two years and opened the door to more quantitative easing, in an attempt to resto
Read moreLondon close: FTSE 100 back above 6,000
4th Jul 2011 16:56
The top share index finished well clear of the 6,000 point mark as the rally following the Greek parliament's vote in favour of austerity measures continued. Property group British Land was among the top risers. Panmure Gordon has been casting its eye over the company and notes that it offers "an a
Read moreLondon midday: FTSE 100 passes 6,000 points
4th Jul 2011 12:05
The top share index is above the 6,000 point mark again as the post-Greek austerity vote rally continues. The rise comes in spite of Standard & Poor´s warning that the voluntary rollover proposed by the French government and accepted by banks for 70% of Greek debt could be considered a "selective d
Read moreLondon open: Footsie struggling to pass 6,000
4th Jul 2011 08:33
The top share index has got off to an indecisive start, edging higher but failing to breach the 6,000 point barrier. Among the risers is Essar Energy, the India-focused integrated energy company. It said the general meeting to rubber stamp its proposed acquisition of the oil refinery and other asso
Read morePennon to build 'Energy from Waste' plant
4th Jul 2011 07:06
South West Water owner Pennon's subsidiary Viridor Waste Management is to build a new plant to generate energy from waste in Devon. The 'Energy from Waste' (EfW) plant, to be built at Marsh Barton in Exeter, will process 60,000 tonnes of municipal waste a year and will require Viridor to stump up £
Read moreAnglo American finance boss sells again
29th Jun 2011 16:01
Anglo American's finance director Rene Medori has pocketed £450,000 from the sale of shares in the mining giant. He offloaded 15,000 at 3,000p a pop, in his second big sale of shares this month. On 7 June he sold the same amount at just over 3,000p a share. Today's sale leaves him with a beneficia
Read moreThursday tips round-up: Petrofac, Mouchel, Pennon
16th Jun 2011 07:03
Petrofac shares have experienced pretty much straight-line growth over the past year and had got to a stage, with a price-earnings multiple in the high teens, which was becoming hard to justify. The company has said that by 2015 it will double the basic profits earned in 2010. The shares look high e
Read morePennon buys recycling firm for £1.7m
7th Jun 2011 11:52
Water and sewerage services group Pennon is expanding its waste management services through the acquisition of cardboard and plastics recycling firm Storm Recycling for £1.7m. The acquisition, made by Pennon's subsidiary Viridor Waste Management, "is in line with the Group's strategy of expanding i
Read moreViridor growth boosts Pennon profits
24th May 2011 07:31
Strong growth in its waste services group Viridor helped the water company Pennon post a rise in profits in the year to 31 March, despite regulatory restraints on how much it can charge its water customers. Pennon, which operates South West Water serving Devon, Cornwall and parts of Dorset and Some
Read morePennon in rubbish agreement
11th Mar 2011 07:56
Water group Pennon said its Viridor Oxfordshire subsidiary has won a 25-year residual waste treatment contract with Oxfordshire County Council. The contract requires financing, construction, and operation of a new Energy from Waste (EfW) plant at Viridor's site at Ardley near Bicester in Oxfordshir
Read moreAverage rise of 4.6% for water bills
25th Feb 2011 12:16
Rising inflation rates are feeding through to water bills with consumers facing an average increase in annual charges of 4.6%, according to Ofwat. The water industry regulator had agreed with the water companies that average bills should fall by 0.1% before inflation is taken into account. The inf
Read moreWednesday tips round-up: British Land, Premier Foods, Micro Focus...
16th Feb 2011 06:38
More good news from British Land, with third-quarter results that had analysts gushing. The property company showed underlying portfolio growth of 2.3% (to £9.3bn) in the third quarter, comfortably ahead of the 1.2% and the 1.4% in the first and second quarters respectively. The shares are trading
Read morePennon shrugs off Big Freeze
15th Feb 2011 07:47
Pennon has traded in line with expectations since October 1 and doesn't expect December's Big Freeze to have a material impact on results at either the water or waste businesses. Strong summer demand was followed by the coldest December in 100 years, bursting pipes across the country. "However, th
Read moreFTSE 250 movers: Exillon higher after test results
7th Feb 2011 15:48
Shares in Exillon Energy started the week on the front foot after test well results in the West Siberia basin kept up the oil producer's 100% drilling success rate since 2006. Defence firm Cobham has bought US surveillance technology company Corp Ten International. Cobham is paying $11.5m to acquir
Read morePennon beefs up waste recycling business
7th Feb 2011 07:38
Water group Pennon's subsidiary Viridor Waste Management has acquired a materials recycling company based in Somerset. Viridor is acquiring Martock Waste Paper from the owners on a debt free basis for £7.4m in cash. The acquired company comprises a recycling facility and associated collection acti
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