Water firms await Ofwat pricing proposals
25th Nov 2009 15:02
Water companies are not normally known as generators of great excitement, but all eyes will be on the sector tomorrow as the regulator Ofwat gives its final determination on how much they can charge customers over the next five years. With householders still reeling from the economic crisis, the wa
Read moreLondon midday: Footsie maintains lead
25th Nov 2009 12:09
Stocks are steady at lunchtime Wednesday as miners remain firmly on the front foot, while bid speculation is behind big gains at International Power. The hot money is on International Power at the moment, with investors betting that French utility GDF Suez will bid £6bn, or 400p-a-share, for the el
Read moreWednesday tips round-up: Lloyds Banking, Severn Trent, SSL
25th Nov 2009 06:35
On balance, Lloyds Banking investors should take up their rights and consider this an investment for the long term suggests the Telegraph. The average shareholder owns 740 shares, which means the average sum an investor will have to stump up to prevent dilution at this stage is £367. Ultimately, t
Read moreLondon close: FTSE 100 closes 32 points lower
24th Nov 2009 16:48
London ended the day in the red as the FTSE 100 lost its earlier gains after Wall Street opened sharply lower. London did not sustain a short-lived rally in the late afternoon. The market seemed to initially ignore Bank of England governor Mervyn King's cautious comments to the House of Commons Tr
Read moreLondon afternoon: Shares still drifting
24th Nov 2009 14:31
London continues to lack direction, with Bank of England governor Mervyn King's comments to the House of Commons Treasury select committee on the state of the economy having more of an effect on sterling than on share prices. With sterling dipping after King's comments, package holiday firms Thomas
Read moreSector movers: Water groups on the rise
24th Nov 2009 13:14
Water groups are on the rise after strong numbers from Severn Trent, which operates in the English Midlands and Wales. Underlying pre-tax profits at Severn climbed to £188m from £154.5m on revenues that rose to £852.1m from £814.3m. The interim dividend was lifted by 1.6% to 26.71p. The water comp
Read moreBroker tips: Retailers, Pennon, Informa
24th Nov 2009 12:52
Nomura Securities has been casting an eye over the general retail sector where it reckons almost all data indicators point to an improvement. The broker has picked four stocks it likes in the sector: Marks & Spencer, KESA Electricals, Home Retail Group and HMV. Marks & Spencer is set to 'benefit f
Read moreBroker snap: Hold fire on Pennon
24th Nov 2009 12:50
Broker Charles Stanley was reassured by half year results from Pennon last week, but as with all UK water companies, Thursday's Ofwat's final determination for the next five-year regulatory period 2010-15 is likely to have a bearing on its future prospects. The broker reckons Pennon remains 'relat
Read moreLondon midday: Leading shares mixed
24th Nov 2009 12:10
Footsie has fought its way into positive territory after a dull opening, helped by a recovery by some mining stocks. Anglo American, ENRC and Lonmin are the brightest features of a mining sector that initially opened lower on softer copper prices. Lloyds Banking Group is firmer after it priced i
Read moreLondon open: Lloyds unveils record cash call
24th Nov 2009 08:52
London's blue chips have fallen back after yesterday's strong gains, with Lloyds Banking getting most of the attention. Lloyds Banking Group priced its world record £13.5bn rights issue at 37p a share, a discount of 59.5% to last night's closing price. Britain's third-largest lender will offer s
Read moreLondon pre-open: Negative start ahead
24th Nov 2009 07:31
London's blue chips are expected to start around 50 points lower, falling back from yesterdays triple-digit gains. Footsie closed more than 100 points higher on Monday thanks to a record price for gold, an early rally on Wall Street and strength across the financial sector. Lloyds Banking Group h
Read moreSevern Trent posts profit rise ahead of Ofwat decision
24th Nov 2009 07:04
Water supplier Severn Trent posted a rise in turnover and profits in the six months to September 30 and lifted its dividend ahead of the regulator's final decision on how much it can charge customers over the next five years. Underlying pre-tax profits climbed to £188m from £154.5m on revenues that
Read moreLondon close: Footsie 100 points higher
23rd Nov 2009 16:37
Footsie closed more than 100 points higher on Monday thanks to a record price for gold, an early rally on Wall Street and strength across the financial sector. Gold has hit new highs, and that has led to sharp mark-ups in the price of gold miner Randgold and silver and gold miner Fresnillo. Elsewhe
Read moreTuesday preview: Severn Trent, BSS, Homeserve
23rd Nov 2009 16:19
With the water regulator OFWAT due to publish its final determination on the 2010 - 2015 regulatory regime for the water companies on Thursday, Severn Trent's results on Tuesday will certainly be topical, though probably unexciting. The utility company said back in July that the decline in consumpt
Read moreLondon afternoon: Rally into three figures
23rd Nov 2009 14:49
A record price for gold, an early rally on Wall Street and strength across the financial sector has sent London to its best levels of the day. Gold has hit new highs, and that has led to sharp mark-ups in the price of gold miner Randgold and silver and gold miner Fresnillo. Elsewhere in the sector
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