|Bid||26.82 x 410300|
|Ask||26.82 x 177800|
|Day's range||26.38 - 26.86|
|52-week range||16.78 - 27.38|
|Beta (3Y monthly)||0.83|
|PE ratio (TTM)||16.46|
|Earnings date||14 Nov 2019|
|Forward dividend & yield||0.70 (2.70%)|
|1y target est||N/A|
(Bloomberg) -- EON SE has hired BNP Paribas SA to help sell an energy supplier in the Czech Republic it’s gaining as part of its pending takeover of rival Innogy SE, people with knowledge of the matter said.EON plans to kick off a formal sale process for Innogy’s Czech electricity and gas retail business in the coming weeks, according to the people, who asked not to be identified because the information is private. The assets, which EON is selling to win antitrust approval for the Innogy acquisition, could fetch as much as 1 billion euros ($1.1 billion), the people said.The European Commission on Tuesday granted EON permission to take over Innogy from RWE AG in a deal that is set to transform Germany’s energy landscape. To win approval, EON agreed to divest most of its German customers for heating power, along with any assets necessary to operate in the market. It also agreed to shed a retail business in Hungary and cede its operation of German highway car-battery charging stations to a new supplier.EON may also announce the formal closing of the Innogy transaction as soon as this week following the European antitrust approval, one of the people said. Deliberations on the planned sales are at an early stage, and no final decisions have been made, the people said.Representatives for EON and BNP Paribas declined to comment.The approval marks an important step in a deal that’s set to reshape Europe’s biggest energy market. As part of the deal, EON will become a grid and network player and RWE will speed its shift from a fossil-fuel power generator to a majority renewables player.\--With assistance from William Wilkes.To contact the reporters on this story: Dinesh Nair in London at firstname.lastname@example.org;Eyk Henning in Frankfurt at email@example.com;Myriam Balezou in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Scent at email@example.com, Neil Callanan, Reed LandbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
Systems that secure Britain's power supplies and keep trains running should be reviewed after a blackout caused by a lightning strike and unexpected power outages last month created travel chaos, the grid operator said on Tuesday.
European stocks closed higher in thin trading on Monday, with investors favouring defensive sectors as the United States and China imposed more tariffs, while a slide in the pound helped Britain's FTSE 100 outperform. After a tumultuous month, equity investors largely shrugged off the latest escalation in the trade spat as Washington began imposing 15% tariffs on a variety of Chinese goods on Sunday and Beijing reciprocated with new duties on U.S. crude oil. London shares jumped 1%, outpacing their European peers, as the internationally focused stocks got a boost from a a slump in sterling on fresh Brexit worries.
(Bloomberg) -- The lightning strike that triggered Britain’s biggest blackout in more than a decade has also spawned a flurry of investigations by groups ranging from the government to railway operators.National Grid Plc’s preliminary report published by the regulator Ofgem on Tuesday indicated that lightning was the initial cause for the Aug. 9 event. That quelled some of the early blame in the national press that the blackout was due to the variability of wind farms, a symbol of the country’s increasingly diversified electricity system.Lightning strikes cause faults on the transmission network throughout the year, but usually don’t set off the chaos seen earlier this month, according to Keith Bell, professor of electrical engineering at the University of Strathclyde.“Provided network protection operates correctly, no generation should be lost from the system as a consequence of such faults,” Bell said. “One main question now is exactly why protection or control equipment at the two generators responded as they did and caused the loss of generation.”Over the coming weeks, a wave of probes are set to get to the bottom of what exactly happened and who is to blame. Here is a roster of who’s involved and what’s coming:To contact the reporters on this story: Jeremy Hodges in London at firstname.lastname@example.org;William Mathis in London at email@example.comTo contact the editors responsible for this story: Reed Landberg at firstname.lastname@example.org, Andrew Reierson, Lars PaulssonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A blackout in Britain which cut power to one million customers and caused transport chaos on Aug. 9 was due to a lightning strike, the grid operator said in a report to regulator Ofgem, which said on Tuesday it would investigate the matter further. Ofgem commissioned the report into the causes of the outages from National Grid and said it would open its own investigation to establish whether any of the grid and network operators or generators breached their licence conditions. "Having now received National Grid's interim report, we believe there are still areas where we need to use our statutory powers to investigate these outages," said Jonathan Brearley, Ofgem's executive director of systems and networks.
HANOI, Vietnam & BERLIN--(BUSINESSWIRE)-- FPT Corporation (FPT), a Southeast Asia’s leading IT services provider, has prolonged a service agreement with RWE AG (RWE) for the delivery of digital technology ...
DAX hits fresh day low, down 0.8% * Euphoria over tariff relief ebbs * Balfour Beatty on track for best day in 17 years after results 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. Reach him on Messenger to share your thoughts on market moves: rm://email@example.com FISCAL STIMULUS IN GERMANY: HOW LIKELY, HOW BIG?
* Earnings in focus: Schindler, RWE, Nordex 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. European shares are expected to open little changed after preliminary data showed that the German economy shrank in Q2 in what could heat up the discussion about fiscal stimulus in the continent's largest economy, as the ECB runs out of ammunition and corporate Europe suffers from an earnings recession.
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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.
RWE on Thursday said it would close its 1.56 gigawatt (GW) Aberthaw B power plant in Wales due to challenging market conditions for coal-fired power capacity in Britain. Under the plans, Aberthaw Power Station, which directly employs about 170 staff, will be closed on March 31, 2020, nearly 50 years after it started operations. Talks with affected staff would begin right away, RWE said.
Norway's $1 trillion sovereign wealth fund may have to sell a $1 billion stake in commodities firm Glencore and other investments to meet tighter ethical investing rules adopted by its parliament. Norway's parliament agreed on Wednesday to the centre-right government's plan that the world's largest fund would no longer invest in companies that mine more than 20 million tonnes of coal annually or generate more than 10 gigawatts (GW) of power from coal. Environmental campaigners Greenpeace and Urgewald said the new rules mean the fund would have to divest its 2.03% stake in Glencore, worth $1 billion at the end of 2018 according to fund data.
Energy firm Innogy , in the process of being broken up by parent RWE and rival E.ON, could team up with oil majors to build offshore wind farms in the booming U.S. market, one of its board members said. Projects off the U.S. coast have become a major target for utilities in Europe, by far the world's largest offshore market in terms of installed capacity, with several large players forming partnerships with Shell.
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