|Bid||0.00 x 119100|
|Ask||0.00 x 202000|
|Day's range||18.47 - 18.69|
|52-week range||18.25 - 22.89|
|PE ratio (TTM)||15.44|
|Earnings date||21 Feb 2017 - 27 Feb 2017|
|Forward dividend & yield||2.95 (12.18%)|
|1y target est||N/A|
RWE is looking at ways to cut its 16.8-billion euro (£14.9 billion) stake in retail business Innogy (IGY.DE) and one option involves a deal with Italy's Enel (ENEI.MI), Reuters reported at the weekend. Despite having no immediate need for cash, RWE has recently held talks with Enel, Europe's largest utility by market value, according to a person familiar with the matter. RWE shares were up 3.1 percent on Germany's DAX market (.GDAXI) , which was off 0.34 percent at 0945 GMT.
MADRID/FRANKFURT/MILAN (Reuters) - German utility RWE (RWEG.DE) is looking at ways to cut its 16.8-billion euro (15.00 billion pounds) stake in retail business Innogy (IGY.DE), several banking sources told Reuters, adding this could involve a deal with Italy's Enel (ENEI.MI). RWE said last week there was no need to sell the 76.8 percent stake, given the steady dividend it gets from Innogy's networks, renewables and retail businesses that were carved out last year. RWE is being advised by Bank of America Merrill Lynch (BAC.N) on its strategic options, while Enel's advisers include JP Morgan (JPM.N), the people said.
Europe's biggest utility, Enel (ENEI.MI), left its full-year targets unchanged after core earnings in the first nine months fell on weaker production in Iberia due to drought conditions. The state-controlled company, which holds a majority stake in Spanish utility Endesa (ELE.MC), said ordinary earnings before tax, depreciation and amortisation fell 4.7 percent to 11.3 billion euros, in line with expectations. The company, which is targeting core earnings this year of 15.5 billion euros, said it expected EBITDA growth to accelerate further in the final quarter.
Stricter European Union pollutant limits could lead to costly upgrades or the closure of one third of Europe's large-scale coal power plant capacity, a report by the Institute for Energy Economics and Financial Analysis (IEEFA) showed on Monday. On April 28, EU member states approved stricter limits on pollutants such as sulphur oxides (SOx) and nitrogen oxides (NOx) from large combustion plants in Europe which can cause air pollution and respiratory diseases. To comply with the new rules by 2021, utilities will either have to invest in new technology to retrofit coal plants, restrict operating hours to under 1,500 a year or close the facilities, the IEEFA said.
A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** European Banks: Kepler Cheuvreux upgrades the sector to "overweight" citing better economic activity ...
European shares hit a two-week low on Wednesday, extending losses from the previous session, weighed down by weaker banks and a plunge in security services firm Gemalto following a profit warning. The ...