Centrica or SSE to benefit from GB Energy's collapse, say analysts
28th Nov 2016 15:55
(ShareCast News) - After the collapse of smaller energy supplier GB Energy over the weekend, political intervention in the energy sector is now much less likely, according to Credit Suisse, which said Centrica's British Gas or SSE could take over the supply of affected customers. GB, a recent new en
Read moreSector movers: Electricity stocks pace gains
28th Nov 2016 14:46
(ShareCast News) - Defensives were again to be found at the top of the leaderboard as longer term market interest rates fell back. Electricty stocks were especially well bid after the collapse of smaller energy supplier GB Energy over the weekend, political intervention in the energy sector is now m
Read moreLondon close: Miners propel FTSE 100 higher as industrial metals surge
22nd Nov 2016 16:34
(ShareCast News) - London equities ended Tuesday on a sharply higher note with major miners storming ahead in tandem with soaring industrial metals prices, and followed by a string of banks and insurers. US interest rate-touch utilities were firmly higher, too. FTSE 100 closed the session up 0.62%
Read moreSSE to freeze energy prices this winter
18th Nov 2016 15:46
(ShareCast News) - SSE, one of the UK's 'big six' energy firms, confirmed on Friday that it will freeze standard household energy prices this winter, capping them at the current level until at least April next year. Will Morris, managing director of retail at the group, said: "We understand that the
Read moreUK govt to put heat under energy suppliers after excess profits claim
14th Nov 2016 11:17
(ShareCast News) - UK Business Secretary Greg Clark said he would be investigating claims that energy suppliers were making larger profits than they claimed to. Clark was responding to a report in the Sun newspaper on Monday that gas and electricity suppliers could be understating profits by as much
Read moreMonday broker round-up
14th Nov 2016 10:38
(ShareCast News) - Dairy Crest: JP Morgan keeps at neutral with a target price of 600p. Tesco: HSBC upgrades to buy with a 260p target. Inmarsat: Jefferies stays at buy with a 1245p target. Aggreko: Barlcays reiterates overweight with a 1000p target. SSE: Goldman Sachs keeps at neutral with a 160
Read moreSSE on track despite uncertain market conditions
9th Nov 2016 07:45
(ShareCast News) - Energy wholesaler and retailer SSE posted its half-year results for the six months to 30 September on Wednesday, with its interim dividend increased by 1.9% to 27.4p per share. The FTSE 100 company's adjusted earnings per share fell by 25.5% to 34.2p, reflecting lower profits in w
Read moreOfgem closes competition investigation of SSE
7th Nov 2016 07:31
(ShareCast News) - Ofgem has dropped its probe into energy company SSE despite identifying "competition concerns" over the company's behaviour in the regional new connections market, in return for several commitments from the company. The energy regulator investigating SSE's provision of connections
Read moreSunday newspaper round-up: GDP, RBS, Anglo, William Hill, bank exit
23rd Oct 2016 15:02
(ShareCast News) - In the first official reading on how the whole UK economy has performed since the Brexit vote, the Office for National Statistics (ONS) is expected to say growth more than halved from 0.7% in the second quarter to 0.3% between July and September. According to economists polled by
Read moreSSE could pay special dividend after selling gas stake to Abu Dhabi
17th Oct 2016 07:03
(ShareCast News) - Scottish energy company SSE has agreed to sell a stake in Scotia Gas Networks to subsidiaries of the Abu Dhabi Investment Authority for £621m. The FTSE 100 company will sell 16.7% of its stake and retain 33.3% equity in SGN by the end of the October, with the proceeds used to retu
Read moreBig Six energy company profits to drop 22%, Jefferies warns
22nd Sep 2016 07:59
(ShareCast News) - Seeing "significant headwinds" for the Big Six energy companies profits due to increased competition and lower power prices, broker Jefferies has downgraded Centrica and Drax to 'underperform' ratings. SSE was however felt better able to weather the storm and left at a 'hold' rati
Read moreSector movers: Electricity stocks buoyed by low interest rate expectations
7th Sep 2016 13:29
(ShareCast News) - Electricity shares were near the top of the leaderboard, with investors apparently growing more confident that interest rates worldwide may indeed remain 'lower for longer'. A drop in a key US manufacturing gauge to six-and-a-half year lows in the previous session was the main cul
Read moreWednesday broker round-up
7th Sep 2016 10:31
(ShareCast News) - Centrica: Goldman Sachs downgrades to sell with a target price of 213p. Ashmore: Barclays maintains underweight with a 270p target. Aviva: UBS upgrades to buy with a 505p target. Polymetal: Berenberg reiterates buy with a 1200p target. SSE: Goldman Sachs keeps at neutral with a
Read moreS&P Global Ratings warns of 'Big Six' margin pressure, earnings volatility
25th Aug 2016 12:09
(ShareCast News) - Energy market reforms may reduce market share and margins, and hike earnings volatility for the so-called 'Big Six' sector players in the UK, warns S&P Global Ratings. The Competition and Markets Authority (CMA) and UK electricity regulator Ofgem have announced a number of reforms
Read moreSector movers: UK engineers drop on downgrades, utilities lower as well
16th Aug 2016 17:34
(ShareCast News) - Shares in British engineering groups Spectris and Halma dragged the Electronic & Electrical equipment sector lower after analysts at HSBC downgraded their stance on both in the wake-up of the recent run-up in their stock price. "The sector continued to re-rate through results seas
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