Conservative victory in UK election will provide relief to utilities, says SocGen
8th May 2015 09:23
Utility stocks surged on Friday, with the threat of any energy price cap by the Labour party falling away as the Conservatives looked set for a surprise UK election win. Given that opinion polls had suggested a broadly 50/50 probability of either a Conservative or Labour government, concerns regardi
Read moreFTSE 100 movers: Anglo American, utility stocks surge
23rd Apr 2015 13:30
Anglo American, owner of jeweler De Beers, surged on Thursday as the mining giant cut its forecast for annual diamond production in order to avoid overproduction in the weaker diamond market. United Utilities, SSE and Centrica was making gains as investors sought refuge in defensive utility stocks.
Read moreLondon close: Resource and utility stocks drag markets lower, data comes in weak
13th Mar 2015 16:45
UK stocks bounced off their lowest levels of the day by the close but still ended in the red as falling mining, energy and utility shares provided a drag. After touching a low of 6,713.50, London's FTSE 100 finished down 20.49 points (-0.3%) at 6,740.58, ending the week down 2.5%. Brent crude was t
Read moreFTSE 100 movers: Energy stocks and supermarkets trade lower
13th Mar 2015 13:28
Energy stocks declined on Friday, ahead of the Labour Party conference, during which Ed Miliband is expected to outline plans to cut energy prices if his party wins the General Election. SSE and British Gas owner Centrica were both trading lower. Supermarkets Tesco and Sainsbury were trading lower a
Read moreLondon midday: Markets slip after weak construction data, utilities fall
13th Mar 2015 12:03
Stocks in London dipped into the red on Friday morning after data showed an unexpected decline in UK construction output, while utility shares weakened on political uncertainty. The FTSE 100 was down 0.35% at 6,737.10 by midday with SSE and Centrica among the worst performers. Construction output d
Read moreSSE and Centrica decline as Miliband pledges to give Ofgem more power to cut energy costs
13th Mar 2015 09:39
Energy stocks declined on Friday morning, ahead of the Labour Party conference, during which Ed Miliband is expected to outline plans to cut energy prices if his party wins the General Election. The Labour leader has stated his intention to push for legislation allowing the energy regulator Ofgem to
Read moreBritish Gas and Northern Powergrid appeal against Ofgem pricing rules
4th Mar 2015 08:20
Two energy companies have started an appeal process against electricity price guidelines imposed by regulator Ofgem. Centrica's British Gas and Berkshire Hathaway's Northern Powergrid have sought permission from the Competition and Markets Authority (CMA) to appeal against regulator Ofgem's November
Read moreSector movers: Utilities SSE and Centrica trading lower
20th Feb 2015 14:48
UK electricity stocks were trading lower again on Friday while the utility sector was subdued as energy provider Centrica extended losses after some gloomy annual results the previous session. Electricity stocks such as SSE have fallen over recent days after a Competition and Markets Authority (CMA)
Read moreLondon close: UK stocks finish flat as markets pause at 15-year high
18th Feb 2015 16:29
Renewed optimism surrounding Greece gave market sentiment a boost on Wednesday, though stocks had erased gains by the close as investors took profits with the FTSE 100 near its all-time high. The Footsie finished the session down just 0.05 points at 6,898.08, retreating after hitting an intra-day hi
Read moreCMA energy probe warns of overpaying and "unilateral market power" over customers
18th Feb 2015 08:33
An investigation by the UK competition regulator into the 'Big Six' energy suppliers has found that households are losing significant amounts from a lack of tariff switching and that the firms have "unilateral market power" over most customers. In an update to its ongoing energy markets investigatio
Read moreSunday newspaper round-up: Lloyds, BT, Standard Chartered
1st Feb 2015 13:33
Lloyds Banking Group is preparing to pay a dividend for the first time since it was bailed out by taxpayers, the Sunday Telegraph reported. The board will sign off the group's annual results and then ask the Bank of England permission to pay a dividend before announcing results on February 27th. Llo
Read moreEDF the latest of Big Six to cut energy bills
27th Jan 2015 18:54
Energy firm EDF Energy has become the latest of the Big Six energy suppliers to agree to price cuts, after saying it would cut its tariffs by 1.3%. The cut would take effect from 11 February and would benefit around one million customers, the French-owned said in a statement on Tuesday. EDF added t
Read moreSector movers: Utility stocks gain as investors welcome price cuts
27th Jan 2015 14:52
Utility stocks were the best performers on London's stock market on Tuesday, as moves by energy providers to cut costs were welcomed by investors. SSE became the latest group to cut household gas bills on the back of the recent collapse in wholesale fuel costs. Shares were up nearly 2% in afternoon
Read moreTuesday newspaper round-up: SSE cuts, Starbucks, UK construction...
27th Jan 2015 06:18
SSE has become the fifth big energy supplier to cut household bills after the slump in wholesale costs, wrote The Times. The 4.1% cut in gas prices, equivalent to £28 off an annual gas bill, will not take effect until April 30, however, when most households have turned off their central heating. The
Read moreCharles Stanley remains cautious on SSE
26th Jan 2015 16:36
Broker Charles Stanley reiterated its 'hold' rating for SSE, after the energy company its earnings were expected to be flat, though the management remained committed to grow the annual dividend. SSE said it expects earnings per share to be 123.4p, slightly above consensus of 121p and added it expect
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