SSE's wind farm sale blows over
20th Jul 2011 10:02
Scottish and Southern Energy's sale of a 50% interest in its Braes of Doune wind farm in Scotland has fallen through after "market conditions" forced buyer Climate Change Capital to postpone raising capital for the purchase. In June, SSE agreed to sell its 50% interest (36MW) in the onshore wind fa
Read moreMore onshore wind farm capacity for SSE
6th Jul 2011 11:36
Energy supplier Scottish and Southern Energy (SSE) said it has applied to the UK energy regulator, Ofgem, to receive accreditation under the renewables obligation for two of its onshore wind farm developments, Clyde and Griffin. With this application, SSE is poised to secure renewables obligation c
Read moreLondon close: Miners, banks finish strongly
28th Jun 2011 16:33
The Footsie was bolstered by a decent start on Wall Street, as US house prices rose for the first time in eight months. Furthermore, global market sentiment was buoyed ahead of a critical vote in Greece to approve austerity measures, vital for the country to receive financial aid. French president
Read moreFTSE 100 movers: Banks wanted as Greek fears ease
28th Jun 2011 14:35
The banking sector was lifting the FTSE 100 on Tuesday, as fears over the Greek situation eased. French president Nicolas Sarkozy announced an agreement with French banks to refinance holdings of Greek sovereign debt. "We concluded that by stretching out the loans over 30 years, putting (interest r
Read moreSSE disposes of another wind farm
28th Jun 2011 13:03
Energy provider Scottish and Southern Energy has agreed to sell its 50% interest in the Braes of Doune onshore wind farm to a fund managed by Climate Change Capital for £61.3m, excluding working capital, in a move to optimise its wind farm portfolio. The agreement follows the sale of its 100% inte
Read moreWednesday newspaper round-up: Greece, energy companies, women on bank boards
22nd Jun 2011 06:03
European leaders have been urged to scrap plans for a second Greek bail-out - as the Athens government wins a critical vote of confidence in parliament. Leading London-based think tank Open Europe has claimed that a fresh bail-out, expected to be around €120bn (£106bn), will almost triple taxpayers'
Read moreFTSE 100 movers: Insurers dominate the risers
7th Jun 2011 15:34
UK insurance buyout firm Resolution is the pick of the bunch today, after announcing its plans to return £500m of excess cash to shareholders. Citi has reiterated its 'buy' recommendation on the stock, saying that - given lower asset and debt leverage - "the Resolution business should be at a premi
Read moreSector movers: Drax powers electricity sector
2nd Jun 2011 16:19
Drax is providing a spark in the electricity sector after a kind word from financial services firm Matrix. The broker upped its target price for coal-fired power station operator Drax from 460p to 550p, saying that now is the time to focus on its biomass potential with UK policy becoming clearer in
Read moreFTSE 100 movers: Outsourcers improve on gains
31st May 2011 14:44
Serco, the outsourcing company whose activities include running prisons and London's Docklands Light Railway, has announced the acquisition of India-based service provider Intelenet for up to £385m, boosting shares higher on Tuesday. Prime Markets thinks that the purchase will "safely propel" Serco
Read moreGermany's nuclear exit positive for renewables
31st May 2011 10:39
Germany's decision to exit all of its nuclear power plants marks a clear win for renewable energy, according to Matrix, which highlights a number of UK companies that could benefit. The German government have announced that it will close all 17 nuclear plants in the country by 2022, aiming to repla
Read moreSunday tips round-up: SSE, Afren, Diploma, Chi-Med
22nd May 2011 12:14
Utilities are traditionally favourite choices of cautious investors looking for income, and Scottish and Southern Energy (SSE) is no exception. Questor in the Sunday Telegraph notes the current prospective yield is 5.8%, rising to 6.1% next year. The company aims to make a full-year dividend incre
Read moreLondon close: Stocks give up gains as Greece worries resurface
20th May 2011 16:49
Stocks gave up their early gains as continuing concerns over the eurozone debt situation - particularly over Greece - put a dampener on sentiment. The ratings agency Fitch cut its rating on the country's debt by three notches to B+, warning of the challenges the country faces in reviving its econom
Read moreSector movers: SSE sparks electricity sector
20th May 2011 16:33
The best performing sector on Friday was electricity, bolstered by Scottish & Southern Energy. The legion of income investors holding Scottish & Southern Energy shares were kept happy as the utility company bumped up the dividend a bit more than anticipated on the back of better than expected resul
Read moreFTSE 100 movers: AMEC falls after investor day
20th May 2011 15:37
International engineering and project management company AMEC is the worst performer of the day after an investor event. There is speculation that the group is keen to keep on buying after its recent acquisition of US peer Mactec, limiting the chance of a special dividend, according to reports. BP
Read moreLondon midday: FTSE 100 gives up gains
20th May 2011 12:07
The FTSE 100 has run out of puff and is now flat despite good gains for BP. BP - more specifically last year's disastrous oil spill - is in focus again, but the oil giant's shares are higher after it said MOEX, part of the Japanese trading house Mitsui and the 10% owner of the Macondo oil well that
Read more