|Bid||834.30 x N/A|
|Ask||834.60 x N/A|
|Day's range||820.30 - 838.50|
|52-week range||744.50 - 892.00|
|Beta (3Y monthly)||0.95|
|PE ratio (TTM)||18.73|
|Forward dividend & yield||0.47 (5.97%)|
|1y target est||912.93|
Trade-sensitive technology stocks led losses in European markets on Friday after U.S. chipmaker Broadcom's sales warning and disappointing industrial data out of China came as the clearest signs yet of the damage trade war may do to global growth. The pan-European STOXX 600 index closed down 0.4%, with Frankfurt's DAX index, which lists Europe's largest chipmaker Infineon, falling 0.6%. Broadcom, one of the biggest U.S. players in the chip sector, blamed the $2 billion hit to its 2019 sales on trade tensions and the ban on doing business with Huawei Technologies.
U.S. President Donald Trump struck a positive, conciliatory tone with top British and U.S. business leaders at a meeting in London on Tuesday, sources familiar with the talks told Reuters, despite tensions between the two countries over China's Huawei. In a breakfast gathering with 10 executives at St James' Palace, Trump mentioned the strong historical ties between the two countries and praised British investment in the U.S. healthcare sector in particular, the sources said. Trump had earlier promised Britain a substantial post-Brexit trade deal, during a state visit to Britain being cast as a chance to celebrate Britain's "special relationship" with the United States and boost trade links.
British Prime Minister Theresa May will call on U.S. President Donald Trump to deepen transatlantic economic cooperation on Tuesday, saying a bilateral trade deal could make their partnership "greater still". At a meeting with 10 British and U.S. businesses at St James' Palace, the Queen's official residence, May will tell companies such as defence contractor BAE Systems and pharmaceuticals giant GlaxoSmithKline that greater cooperation would boost the two countries' economic partnership. "It is a great partnership, but one I believe we can make greater still," she will say, according to advance extracts from her office.
National Grid plc's (LON:NG.) most recent earnings announcement in March 2019 revealed that the company endured a...
Britons could see a 6 billion pound cut in energy bills over five years from 2021, saving the average household 40 pounds per year, under plans to curb what gas and electricity network firms can pay shareholders. Regulator Ofgem, which introduced a price cap on standard energy bills in January after lawmakers said customers were being overcharged, is now targeting the operators whose network fees make up around a quarter of British household energy bills. Ofgem said it plans to cut the amount network firms pay their shareholders, known as the "cost of equity range" by almost 50% for the next regulatory period starting in 2021.
British utility stocks are trading at a growing discount to euro zone peers as investors fear the country's deepening political crisis could trigger a general election that ushers in renationalisation of the industry, worth $76 billion (£59.9 billion). The opposition Labour Party has said it wants to nationalise energy and water infrastructure if it can oust Prime Minister Theresa May's Conservatives from power, reversing decades of pro-privatisation policies. Simon Webber, lead portfolio manager on the global and international equities team at Schroders said those fears were "another overhang" for utilities, already subject to a discount like other UK assets because of Brexit uncertainty.
British gas network company Cadent has paid a record penalty of 44 million pounds for failing to properly supply gas to some customers, regulator Ofgem said on Wednesday. The penalty, which will see Cadent pay 24 million pounds for improvements and compensation and set up a 20 million pound community fund, comes a week after Britain's opposition Labour party set out plans to nationalise the sector if it comes into power. Cadent Gas generated an operating profit of 724 million pounds in 2018.
Plans by Britain's opposition Labour Party to nationalise utilities including the country's electricity grid will damage investment as well as hurting many small shareholders, one of the country's main business groups warned on Tuesday. Last week, Labour published plans to renationalise the country's 60-billion-pound energy networks, taking companies such as National Grid, Scottish Power and SSE into public ownership. Utilities warned this would damage investment, and on Tuesday the Confederation of British Industry's president, John Allan, said he feared the impact would spread beyond the businesses directly affected.
Britain's opposition Labour Party wants to nationalise energy and water infrastructure if it can oust Prime Minister Theresa May's ruling Conservatives from power, reversing decades of pro-privatisation public policy. Despite a national election not being due until 2022, the prospect of nationalisation is worrying investors. Analysts have valued the regulated asset values of water and energy networks potentially facing nationalisation at around 125 billion pounds.
With the Labour Party proposing the nationalization of electricity and gas infrastructure, U.K. politics could pose a threat to National Grid's operations.
The risks are rising for this FTSE 100 (INDEXFTSE: UKX) dividend favourite. Royston Wild considers whether the business is still worth buying.
National Grid Plc, the U.K. gas and power network operator borne from Margaret Thatcher’s privatization drive in the 1980s, offers the same services in the densely populated area spanning New York, Massachusetts and Rhode Island. The U.S. now accounts for most of the London-based utility’s revenue and it gets the biggest share of investment. National Grid’s shifting center will come as cold comfort to a company that now has to deal with the threat of nationalization should Britain’s opposition Labour Party win the next U.K. general election.
By Muvija M and Yadarisa Shabong (Reuters) - Rallying banks and mining stocks lifted Britain's FTSE 100 on Thursday, but weak earnings hit luxury brand Burberry (BRBY.L) and Thomas Cook (TCG.L) was floored ...
"The proposals that Labour have set are very complex and from our perspective would be a massive distraction for the industry and would certainly slow down the progress in terms of things like infrastructure investments," Chief Executive John Pettigrew told Reuters on Thursday. Labour's nationalisation plan has prompted infrastructure owners to warn of damage to investment, high taxpayer costs and a slower transition to green energy.
The head of Britain's National Grid criticised the opposition Labour Party's plans to renationalise energy networks, saying it would increase costs for consumers and could prompt legal challenges, as the firm's profit fell slightly. "The proposals that Labour have set are very complex and from our perspective would be a massive distraction for the industry and would certainly slow down the progress in terms of things like infrastructure investments," Chief Executive John Pettigrew told Reuters on Thursday.
Harvey Jones says the generous National Grid plc (LON: NG) yield is now threatened by the Labour Party's nationalisation plans.
In a radical plan, the Labour leader says low-income households would benefit from the changes, which could see millions lifted out of fuel poverty. Labour says the scheme could provide free energy and save an average of £117 a year on household bills. Any unused electricity generated by the programme would be used by the National Grid, which it is claimed would raise an additional £66m a year for local authorities.
The FTSE 100 advanced 0.8% and outperformed its European peers. The FTSE 250 was roughly flat. Markets were initially upbeat after U.S. President Donald Trump said talks between Beijing and Washington had not collapsed, terming the Sino-U.S. conflict as "a little squabble".
National Grid has said plans by Labour to renationalise UK energy networks would damage investment and delay progress towards greener energy. According to the Financial Times, a paper to be set out later this week will explain how a Jeremy Corbyn government would nationalise the networks - cables and pipelines that deliver gas and electricity - soon after winning an election. National Grid said in a statement that it was one of the most reliable networks in the world and also "at the heart of the decarbonisation agenda".
Britain's opposition Labour Party intends to take energy networks back into state ownership if elected, prompting infrastructure owners to warn of damage to investment, high taxpayer costs and a slower transition to green energy. Labour's shadow business and energy secretary, Rebecca Long-Bailey, late on Tuesday published party plans via twitter to renationalise the country's 60-billion-pound energy networks and establish a National Energy Agency. Britain's energy infrastructure, such as gas pipes and electricity cables, is owned by several firms including SSE, National Grid and Iberdrola's Scottish Power.
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