|Bid||10.7540 x 0|
|Ask||11.5000 x 0|
|Day's range||10.6080 - 10.6080|
|52-week range||9.5570 - 11.2520|
|Beta (3Y monthly)||N/A|
|PE ratio (TTM)||0.00|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
ESSEN, Germany/BRUSSELS, Sept 17 (Reuters) - E.ON will move quickly to address problems at Npower, the loss-making British retail business it is taking over after European regulators approved its purchase of assets from peer Innogy , the German energy group's CEO said on Tuesday. "(Npower) is an open wound which bleeds heavily," Johannes Teyssen told journalists. The approval seals the fate of Innogy, which was carved out from RWE and listed three years ago as a separate entity, with its assets being taken over by its parent and E.ON.
Relative newcomer OVO Energy is set to become one of Britain's Big Six energy suppliers after striking a 500 million pound ($622.65 million) deal to buy SSE's retail arm, announced on Friday. The 10-year old independent company has flourished in a market which has seen more than ten small energy suppliers collapse over the past year, hurt by fierce competition and a regulator-imposed cap on prices. "Our focus was always to deliver cheaper, greener, simpler energy and provide good service for customers," OVO Chief Executive and founder Stephen Fitzpatrick said in an interview.
* European shares higher, STOXX up 0.6% * China, U.S. to hold trade talks in October * Safran, Dassault Aviation rally on results, CYBG tanks * German industrial orders fall more than expected * Wall Street futures point to higher open Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. In Europe, the STOXX 600 has hit a fresh 1-month high while in the U.S. the S&P is 3% under its all-time high and futures are pointing to a strong start at Wall Street.
Milan up 0.9% * Spin-off news boost TechnipFMC and IWG * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: email@example.com AFTER IGNORING TRUMP, EUROPE POUNCES ON CHINA STIMULUS (1051 GMT) China's pledge to boost car sales has injected some fresh optimism into stocks in what's turning into another rollercoaster day on the markets. The speed and the size of the rebound highlight how investors pounced on news that China's State Council is considering relaxing and removing restrictions on auto purchases as much-needed good news and the latest sign Beijing wants to boost consumption to shore up the world's No. 2 economy and offset the damaging effects of the protracted trade spat.
Milan up 0.6% * Spin-off news boost TechnipFMC and IWG * Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Equities have lost 3% of their value since Trump's tariffs on steel and aluminium in March 2018 and since then it's been headline ping pong, except for the December 2018 crash.
Britain's SSE will cut energy bills for customers on its standard tariff from Oct. 1, with prices falling 6% in line with regulator Ofgem's price cap, the company said on Wednesday. In August Ofgem said the cap would be lowered by 6% from Oct. 1 to 1,179 pounds ($1,430) per year for average energy use to reflect lower wholesale energy prices. "All customers who are negatively impacted by the change will receive a letter/email to explain how the Ofgem cap works and why we’re changing our prices," SSE said.
Energy bills are set to fall for millions of households in Britain this winter after the country's energy regulator told suppliers to reduce bills by 6% from Oct. 1, following a drop in wholesale gas and power prices this year. Britain's big six energy suppliers are Centrica's British Gas, SSE, Iberdrola's Scottish Power, Innogy's npower, E.ON and EDF's EDF Energy. The regulator, Ofgem, said the price cap for average annual consumption will fall by 75 pounds ($91.21) to 1,179 pounds from Oct. 1.
FRANKFURT/DUESSELDORF, Germany, Aug 7 (Reuters) - E.ON remains committed to the ailing British retail energy market, its chief financial officer said on Wednesday, allaying concerns the German group could pull out after prolonged profit decline. E.ON -- one of Britain's "big six" energy providers -- lost about 400,000 clients in Britain in the first six months of the year, hit by a price cap on tariffs and cut-throat competition that has led profits to plunge by 65%. On a group level, second quarter operating profit fell 18% to 542 million euros ($606 million), higher than the 528 million Refinitiv estimate.