|Bid||1,220.00 x 0|
|Ask||1,320.00 x 0|
|Day's range||1,237.00 - 1,314.50|
|52-week range||997.80 - 1,314.50|
|Beta (3Y monthly)||0.76|
|PE ratio (TTM)||9.49|
|Earnings date||13 Nov 2019|
|Forward dividend & yield||0.97 (7.84%)|
|1y target est||1,324.00|
A British employers' group criticised on Monday what it said would be the "beyond eye-watering" cost of the opposition Labour Party's plans to return utilities, train companies and the Royal Mail to public ownership. The Labour Party has moved sharply to the left under its leader Jeremy Corbyn, and although it lags the ruling Conservatives in opinion polls, Brexit turmoil and the likelihood of an early election could see it take power. The Confederation of British Industry said Labour's plans would have an upfront cost of 196 billion pounds ($249 billion), assuming Labour paid the full market value of companies involved - similar to a 176 billion-pound estimate made last year by the pro-privatisation Centre for Policy Studies think tank.
These two FTSE 100 (INDEXFTSE:UKX) shares seem to offer growing dividends and low valuations in my opinion.
This FTSE 100 (INDEXFTSE:UKX) dividend stock could be heading for trouble so investors should jump ship says Rupert Hargreaves.
A sharp recovery in London's FTSE 100 led by oil majors BP and Shell on Friday was not enough to stop the index from recording its worst weekly performance in nearly a year amid fears of an economic slowdown and risk of recession. The UK-oriented FTSE 250 climbed 0.7%, led by gains in power generator Drax after sources told Reuters the European Commission was set to approve Britain's roughly one billion pound power backup plan.
Profits from supplying gas and electricity at Britain’s big six energy firms sank by a combined 35 percent last year as they continued to lose customers to smaller rivals, a report by energy market regulator Ofgem said on Thursday. Britain’s so-called 'Big Six' energy suppliers - Centrica's British Gas, E.ON, SSE, EDF's EDF Energy, Innogy's npower and Iberdrola's Scottish Power - have faced competition from more than 60 smaller firms, often offering cheaper prices. In its annual state of the market report, Ofgem said the six companies had lost around 1.3 million customers and they served just above 70% of domestic customers as of June this year, down from around 75% in June last year.
GE Renewable Energy has been chosen as preferred supplier to provide turbines for Britain's Dogger Bank offshore wind project being developed by SSE and Equinor, the companies said on Tuesday. The three Dogger Bank wind projects in the North Sea will use GE's Haliade-X turbine, which with a capacity of 12 megawatts (MW) is the world's most powerful turbine. "Dogger Bank will now be home to the largest offshore wind turbines in the world and this pioneering low carbon technology, which will play a central role in helping the UK become carbon neutral by 2050," Paul Cooley, director of capital projects at SSE Renewables, said in a statement.
Utility SSE Plc said on Thursday the contribution from its first-half profits to annual results would be significantly lower than previously expected after payments under Britain's back-up power scheme were delayed. A European Union court ruling last year forced Britain to halt payments under its capacity market scheme, which pays generators to be available during periods of high demand, pending a review by the European Commission. SSE, one of Britain's so-called Big Six energy firms, said the continuing suspension of the payments meant the company was unable to recognise pending payments totalling 148 million pounds.
A European Union court ruling last year forced Britain to halt payments under its capacity market scheme, which pays generators to be available during periods of high demand, pending a review by the European Commission. SSE, one of Britain's so-called Big Six energy firms, said the continuing suspension of the payments meant the company was unable to recognise pending payments totalling 148 million pounds. The European Commission launched the review of Britain's capacity market scheme in February but industry experts have said this could take 12 months to complete.
* European stocks fall as Trump impeachment probe knocks confidence * But Trump says trade deal with China could happen sooner * STOXX 600 ends down 0.6%, off lows after hitting Sept. 10 low * France's EDF leads fallers as co flags rising Hinkley Point costs * Wall Street hits session high on Trump's China trade comments 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: rm://firstname.lastname@example.org OFF LOWS: "MARKET ARE WAY MORE INTERESTED IN A TRADE DEAL" (0413 GMT) Worries over the possible impact of impeachment proceedings against Trump on the on trade talks with China and the 2020 presidential election in the U.S. drove European shares down sharply with the STOXX 600 dragged down to two-week lows, falling 1.45% at one point.
* European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street falls as Trump transcript with Ukraine president released 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. EUROPE BRACES FOR FRESH U.S. TRADE FRONT (1458 GMT) The market is obsessed today about the U.S. impeachment probe of U.S. President Trump and whether it could derail the U.S.-China trade talks.
* European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street futures point to weak U.S. open 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. "MULTIPLE HEADWINDS" (1425 GMT) Travel & leisure stocks are top fallers today as it looks like the possible market share gains stemming from the demise of UK travel group Thomas Cook are already baked in the prices, while longer-term challenges for the industry remain. Jefferies says the scale of Thomas Cook's failure could potentially lead independent hoteliers to review partners and payment terms.
* European stocks under pressure as Trump impeachment probe knocks confidence * Euro-zone index hits Sept. 5 low, down 1.3% * STOXXE and major bourses set for worst day in 6 weeks * EDF falls as co flags rising Hinkley Point costs * Wall Street futures point to weak U.S. open 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: rm://email@example.com U.S. PRESIDENT IMPEACHMENTS: WHAT DOES HISTORY TELL US?
* EDF falls as co flags rising Hinkley Point costs 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. Green government policies, low interest rates, rising importance of ESG (environmental, social and governance) and lower construction costs are seen as factors making the capital-intensive utility sector attractive, according to Bank of America Merrill Lynch (BAML). Apart from policies, decarbonisation and low interest rates, the ESG theme is also playing out well for the sector with 44% of asset owners expected to increase their allocation to ESG-compliant stocks.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The world’s biggest offshore wind park planned off the coast of England will probably in the next decade generate power cheaper than by burning coal.A number of offshore wind projects won contracts to sell power at guaranteed prices in a U.K. auction Friday. The price of 39.65 pounds per megawatt-hour ($49.70) was 31% below the level in a similar auction two years ago.The plunge highlights how offshore wind, which only a few years ago was a niche technology more expensive than nuclear reactors, is changing the economics of energy around the world. Both utilities and, increasingly, energy majors, are planning to spend $448 billion through 2030 on an eightfold capacity increase, according to BloombergNEF.Projects from developers including SSE Plc, Equinor ASA and Innogy SE won offshore wind power-purchase contracts that will have the capacity to generate as much as 5.5 gigawatts of power, the government said. That includes a joint SSE-Equinor project off England’s east coast to build the biggest single offshore wind park in the world.“The auction results today show offshore wind is in line with current power prices - it is already competitive with existing fossil fuel plants, let alone new fossil fuels,” said Deepa Venkateswaran, an analyst at Sanford C. Bernstein & Co. in London. “In the next auction in 2021 we will see costs go well below that of existing fossil fuel plants.”One of the winning areas, known as Dogger Bank, is off the coast of Yorkshire. Three projects by Equinor and SSE were approved in the zone for a total generation of 3.6 gigawatts. Another 1.4 gigawatt project developed by Innogy was also approved in the same area.Equinor’s success at the auction is a key step in its transition to becoming a broader energy company than just an oil and gas major. The state-controlled Norwegian company has a target of investing as much as 20% of its capital in new energy solutions by 2030.“Dogger Bank, together with the recent award for Empire Wind in the U.S., positions Equinor as an offshore wind major,” said Pal Eitrheim, Equinor’s executive vice president for new energy solutions. “These projects provide economies of scale and synergies, making us an even stronger competitive force in offshore wind globally.”Equinor Races Ahead of Big Oil Pack in Bet on Offshore WindSSE winning capacity will accelerate its shift away from a traditional utility to an energy company focused on renewable power and grids. The Scottish company has agreed to sell its U.K. domestic supply business to Ovo Energy Ltd.The agreements give the projects a guaranteed buyer through what’s known as a contracts-for-difference mechanism. If the wholesale rate is lower than the set price, the government pays the developer the difference. If it’s higher, the company pays it back. U.K. month-ahead power is trading at 42.05 pounds per megawatt-hour, down 34% this year.Even as wind power moves away from a reliance on government subsidies, the contracts could still play an important role going forward. The guarantee helps developers secure financing and also make the assets more attractive to institutional investors who want reliable returns. The next U.K. auction round is set to take place in 2021.The Crown Estate said Thursday it plans to open the first contest in a decade for sites around the British coast that could draw as much as 20 billion pounds of investment in offshore wind.For SaleThe contracts also open up a track for investors to take stakes in some of these projects. Earlier this year, Iberdrola sold a stake in its 714-megawatt East Anglia One project to Macquarie Group Ltd. for 1.63 billion pounds. Projects that have the backing of government-supported purchase agreements are often more attractive to investors who favor the guaranteed prices.Innogy will likely sell a stake in it 1.4 gigawatt Sofia Offshore Wind Farm development in the Dogger Bank Area, according to Richard Sandford, the company’s director of offshore investment and asset management. The company hasn’t decided how big of a stake it will sell, but plans to make a final decision sometime next year. SSE also said it will look to sell equity in a 454-megawatt project in Scotland that it won a contract for in the auction.(Updates with analyst comment in fifth paragraph.)\--With assistance from Mikael Holter.To contact the reporter on this story: William Mathis in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Reed Landberg at email@example.com, Lars Paulsson, Rob VerdonckFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Equinor and Britain's SSE have won a tender to build three wind farms off Britain, which the Norwegian firm said together will form the world's largest such development. Like other European oil firms, Equinor is developing its renewables business and is focused on offshore wind given its experience as an offshore oil platform operator. "The successful bids for the world’s largest offshore wind development represent a game-changer for our offshore wind business and support the development of Equinor as a broad energy company," Equinor CEO Eldar Saetre said in a statement.
Britain has launched its first major auction of offshore wind farm leases in a decade, offering sites with the combined potential to power more than six million homes. Britain is already the world's largest offshore wind market, and plans to generate a third of its electricity from the technology by 2030 as a part of efforts to reach its 2050 net zero carbon emissions target. The Crown Estate’s so-called fourth leasing round is expected to attract bids from established offshore wind developers as well as European oil majors, under pressure from shareholders to show how they plan to align their businesses with global efforts to cut emissions.