Advertisement
UK markets close in 1 hour 20 minutes

  • FTSE 100

    8,132.11
    +53.25 (+0.66%)
     

  • FTSE 250

    19,825.08
    +223.10 (+1.14%)
     

  • AIM

    755.56
    +2.44 (+0.32%)
     

  • GBP/EUR

    1.1677
    +0.0021 (+0.18%)
     

  • GBP/USD

    1.2501
    -0.0010 (-0.08%)
     

  • Bitcoin GBP

    51,524.61
    +660.15 (+1.30%)
     

  • CMC Crypto 200

    1,338.07
    -58.47 (-4.19%)
     

  • S&P 500

    5,102.55
    +54.13 (+1.07%)
     

  • DOW

    38,284.90
    +199.10 (+0.52%)
     

  • CRUDE OIL

    83.93
    +0.36 (+0.43%)
     

  • GOLD FUTURES

    2,353.00
    +10.50 (+0.45%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,158.08
    +240.80 (+1.34%)
     

  • CAC 40

    8,093.04
    +76.39 (+0.95%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

STOCKS NEWS EUROPE-Enel leads FTSE MIB higher on UBS upgrade

Reuters - UK Focus

Shares in indebted utility Enel (Milan: ENEL.MI - news) rise 4.1 percent to lead gainers in Italy's 0.2 percent stronger blue-chip FTSE MIB (Milan: FTSEMIB.MI - news) index after UBS upgrades the stock to "buy" from "neutral" ahead of an expected change in strategy, traders say.

UBS (Berlin: UBRA.BE - news) says Enel trades at a one-third discount to its peers because of its high debt and poor cash flow generation. "We believe this is soon to change as we expect management to shift strategy and focus on FCF (free cash flow)."

The cash flow situation will improve because of a cut in investments, an acceleration of an asset sales plan and greater cost savings, the bank's analysts add in a note.

Reuters messaging rm://stephen.jewkes.thomsonreuters.com@reuters.net