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BUZZ-Centrica, UU: top gainers on FTSE 100 after CS upgrades

Reuters - UK Focus

** Centrica (Frankfurt: A0DK6K - news) shares up 2 pct, United Utilities (LSE: UU.L - news) up 1.6 pct - top gainers on UK bluechip index, as Credit Suisse becomes less negative on sector

** CS raises Centrica to "outperform" from "neutral" and United Utilities to "neutral" from "underperform"

** Brokerage notes the sector is down about 35 pct vs European peers across last 18 months and the worst case is priced in for UK domestic energy suppliers

** CS forecasts an about 33 pct cut in Centrica's 2018 dividend and other cost cutting measures; upgrades UU as it trades below fair value