Ofgem launches probe into SSE
21st Jan 2015 16:58
The energy regulator Ofgem is launching an investigation into energy firm SSE amid concerns it limits competition in the electricity connections market. The watchdog said it aimed to increase competition in the market but has come across evidence that the energy firm might have breached competition
Read moreSunday newspaper round-up: Enquest, Britain's economy, Bank of England
18th Jan 2015 19:00
EnQuest is cutting spending, jobs and pay in an effort to avoid breaking the terms of its bank loans, the Sunday Times reported. The biggest independent UK North Sea oil producer's shares have fallen 80% since last summer as the price of crude oil collapsed. Investors took fright because of the comp
Read moreSunday share tips: Mitie, UK Mail, Vodafone
18th Jan 2015 18:44
Mitie's shares have fallen but not as fast as those of outsourcing rivals such as Serco and Balfour Beatty, Danny Fortson pointed out in the Sunday Times. Matthew Earl, a former City analyst who writes a blog, criticised Mitie for buying companies to compensate for its own slow progress and for the
Read moreLondon close: Stable oil prices and upbeat retail news buoys Santa rally
19th Dec 2014 16:03
The Santa rally continued on its merry way on Friday as oil prices rose and upbeat retail data boosted supermarkets. The FTSE 100 Index closed 79.27 points ahead at 6545.27, its fourth session of gains in a row. Oil heavyweights rose as the price of Brent and US crude recovered from earlier falls t
Read moreFTSE 100 movers: Oil stocks gain as crude prices rebound
19th Dec 2014 14:25
Oil and gas stocks were advancing on Friday after a strong rebound in crude prices, with Tullow Oil, BP, Shell and BG Group putting in decent gains. Brent futures were up 2.7% at $60.85 a barrel on the back of optimistic comments about future demand from Saudi Arabia's oil minister. The price droppe
Read moreLondon midday: UK stocks extends gains as markets track Wall Street higher
19th Dec 2014 11:07
UK stocks extended their winning streak into the fourth day on Friday as a welcome, albeit late, Santa Rally kicked in following the recent sell-off. The FTSE 100 was trading 0.3% higher at 6,486 by noon and has now gained nearly 5% since Tuesday. "He left it late this year, but Santa finally provi
Read moreSSE falls short of target in power generation bid
19th Dec 2014 08:47
Power generator and retailer SSE has not won all the generation business it wanted in a UK energy generation capacity auction. SSE said it had secured agreements to supply 4,409 megawatts of power from October 2018 to September 2019 at a price of £19.40 per kilowatt. But it said 2,796 megawatts of
Read moreLondon close: FTSE sinks 2.5%, extends weekly decline to 6.6%
12th Dec 2014 16:38
UK stocks plummeted to levels not seen in nearly two months on Friday as weak global economic data and an ongoing sell-off of crude oil hammered market sentiment. The FTSE 100 settled at just 6,300.63 by the end of trade, down an eye-watering 2.5% on the day, with just four constituents on the index
Read moreFTSE 100 movers: Oil stocks track oil price lower
12th Dec 2014 15:15
Petrofac, Tullow Oil, BP, Shell and a host of stocks exposed to the oil price were suffering heavy losses on Friday. Oil and gas engineer Weir, however, was bouncing back after recent declines following an upgrade by Canaccord Genuity from 'hold' to 'buy'. The broker said the stock's valuation now l
Read moreLondon midday: Stocks tumble as oil prices extend losses, data disappoints
12th Dec 2014 11:36
Weaker-than-expected data from across the globe and a continued plunge in oil prices meant that there was no let-up in the sell-off for UK equity markets on Friday. Stocks were falling for the fifth day straight, with shares in the oil and gas sector faring the worst. London's FTSE 100 was down a s
Read moreLondon open: Sell-off continues as UK resource stocks tank
12th Dec 2014 08:42
The dramatic sell-off on the FTSE 100 continued into its fifth straight day on Friday as a weak finish on Wall Street and disappointing data from China hammered already-fragile sentiment on the market. London's benchmark index was down a staggering 1.3% at 6,377 early on, dropping below the 6,400 le
Read moreSSE receives proposed price reduction from Ofgem
28th Nov 2014 08:11
Scottish and Southern Energy Power Distribution, part of SSE PLC, said it has received the final outline for the proposed 2015 price reduction from Ofgem. In the north of Scotland and south of England, areas where SSE operates, the industry regulator has proposed a reduction of £27 and £18 per house
Read moreSector movers: Mining stocks rally on Chinese stimulus, but defensives fall
21st Nov 2014 15:20
A surprise interest-rate cut in China saw equity markets surge on Friday with cyclical mining stocks benefiting and defensive stocks feeling the brunt from an increase in risk appetite. Cyclical sectors are those that are closely and positively correlated to economic activity and, in the case of the
Read moreFTSE 100 movers: Miners jump as China cuts interest rates, oil stocks rise
21st Nov 2014 15:03
Mining stocks were dominating the risers list on the FTSE 100 on Friday after China's central bank surprised with an interest-rate cut in an effort to boost growth, raising hopes that the top metals consumer will be able to avert a hard landing. Anglo American, Fresnillo, BHP Billiton, Rio Tinto, An
Read moreLondon close: UK stocks snap winning streak on banking fine, BoE outlook
12th Nov 2014 16:20
News of a big fine in the banking sector and gloomy comments from the Bank of England (BoE) weighed on UK equities on Wednesday, with London's stock market finishing lower for the first time in six sessions. A weak start on Wall Street was also pressuring stocks as the benchmark S&P 500 and Dow Jone
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