Centrica chief executive to depart after slump into losses and dividend cut
The utility posted a half-year net loss of £550mln compared to a profit of £238mln
Company
Centrica PLC
LON:CNA
Centrica plc is an integrated energy company operating predominately in United Kingdom and North America. In the United Kingdom, it operates three segments: upstream, downstream and storage.
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Investments and investor services
FTSE 100 closes lower but BP top gainer after Q2 results beat expectations
The FTSE 100 index closed 39.84 points lower on the day at 7,646, while the midcap FTSE 250 index plunged almost 112 points to close at 19,774
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Greggs on a roll after vegan success but can it keep up the momentum?
Greggs, Reckitt Benckiser and Provident Financial are among the companies reporting results on Tuesday
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Week ahead preview: Lloyds, Barclays, RBS, BT Group, BoE and US Fed
It will be a busy week for markets with a barrage of corporate earnings and interest rates decisions from the Bank of England and the US Federal Reserve.
Why you should be looking at small- and mid-caps to stuff into your income portfolio
Most income investors fill their boots with FTSE 100 giants such as BT and Vodafone, but with several high-profile dividend cuts of late, Octopus fund manager Chris McVey reckons a ‘multi-cap’ approach is needed
Credit Suisse thinks British Gas owner Centrica will HALVE its dividend next month
Even at 6p a share, Centrica would still be yielding a very high 6.8% based on the current share price of around 88p
Investments and investor services
FTSE 100 closes lower on day but up slightly on week as trade tensions still weigh
The UK's index of leading company shares closed Friday down nearly 23 points at 7,345
Shell shows way forward for dividends as other blue chips cut their cloth
Oil major guides to total dividends and share buy-backs of US$125bn “or more” between 2021 and 2025
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Inflation figures to lead macro news on Wednesday, Royal Mail braces for full year figures
Economists are expecting the consumer price index to be well below the recent growth in average earnings at around 1.8% year-on-year in April
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Still no opportunities to sell in May, with Royal Mail and M&S set to deliver updates
The Week Ahead will also bring news from power firm SSE and water groups Severn Trent and United Utilities, plus the latest UK inflation and retail sales numbers
High FTSE yields point to 'dividend slaves' that may cut payouts
Grace Jones' Slave to the Rhythm might well have been about the pressure of a progressive dividend policy: 'Build on up, don't break the chain; Sparks will fly when the whistle blows'
Centrica warns on first half performance as tariff caps, warm weather and gas prices turn up the heat
The British Gas owner said while its operational performance had been “largely in line”, a “challenging trading environment” in the first quarter would impact its first-half performance and had put pressure on its full-year outlook
Investments and investor services
FTSE 100 closes in red as US/China trade tensions ramp up a gear
The UK's blue-chip index finished the day around 39 points lower at 7,163
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Burberry, Kingfisher, Thomas Cook and Aston Martin in focus in week ahead
The week ahead's highlights include updates from Burberry, Land Securities, British Land, Premier Foods, Experian, Kingfisher, Aston Martin, Dignity, Centrica, Thomas Cook, On the Beach and Countryside Properties.
Investments and investor services
FTSE 100 closes in the red as markets sink on growing trade war fears
In Europe, the German DAX tanked 206 points, while the French CAC 40 is down around 104
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BT Group will be in City spotlight on busiest day of the short week
Thursday's preview includes BT Group, Superdry, Morrisons, Barratt Developments, and RSA Insurance.
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BT to take centre stage as it reports full year numbers with dividend in focus
The week ahead includes updates from BT Group, Superdry, Morrisons, ITV, IAG, Barratt Developments, Direct Line, RSA Insurance and Imperial Brands
UBS cuts target price for Centrica, thinks pressure on British Gas owner’s strategy is intensifying
UBS’s analysts pointed out that the FTSE 100-listed firm’s shares have fallen by 19% since its full-year 2018 results in February, making Centrica the worst performer in its sector in the year to date
British Gas owner Centrica to miss earnings forecasts and dividend cut imminent, JP Morgan predicts
JP Morgan cut its rating on Centrica to ‘neutral’ from ‘overweight’ and lowered its target price to 125p from 150p
Investments and investor services
FTSE 100 ends in positive territory, taking the cue from the Dow and data from China
"Equities have been relentlessly positive all day, with the session having started off on the front foot thanks to Chinese credit growth, which rose 10.7% over the year to hit a sum equivalent to 9% of the country’s GDP," said Chris Beaucha
Centrica investors burnt as market frets over whether British Gas owner could cut its generous dividend
Fiona Cincotta, senior market analyst at City index said: “Although a much-feared reduction in Centrica's dividend hasn't been explicitly announced today, the writing is pretty much on the wall”
PCI-PAL surrenders some recent gains as half-year losses widen
A look at the day's major movers, including Gulf Marine Services, Argos Resources, Premier Technical Services, Serco, Vitec, Purplebricks and Centrica
Centrica plunges on dividend worries as British Gas owner warns on 2019 numbers after mixed 2018 results
The FTSE 100-listed firm saw its total consumer account numbers fall by 1% in 2018, although adjusted operating profit rose 12% to £1.39bn, boosted by higher commodity prices
Investments and investor services
FTSE 100 closes in red amid lower volumes but Reckitt Benckiser jumps
Footsie closed down around 17 points at 7,219 but FTSE 250 added over 140 at 19,127
British Gas owner Centrica weak as Citigroup cuts stance to ‘neutral’ from ‘buy’, second broker downgrade this week
The US bank's analysts said "unless Centrica is able to revitalised its current strategy by delivering growth in some of its new business lines or to curb the level of churn in retail or to improve the commodity output, we see little reason
Investments and investor services
FTSE 100 joins the decline in global equities to close lower
There is not a lot of earnings news on either side of the Atlantic to drive markets higher
British Gas owner Centrica warms up as UK regulator raises price caps
Ofgem said it was upping the limit to allow suppliers to cover the higher costs they are facing on the wholesale market
Centrica dividend cut “inevitable”, claim RBC analysts
RBC has pointed to a likely dividend cut and a “general lack of growth” as two of the main reasons for double-downgrading Centrica to ‘underperform’ from ‘outperform’
British Gas parent Centrica downgraded to ‘neutral’ by Credit Suisse amid “tight” dividend outlook
In a note, the bank cut its EPS forecast for the FTSE 100 firm by 9% for 2018 to reflect a weaker UK home market and lower hydrocarbon production volumes
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FTSE 100 closes in the red as global market unease continues
Britain's blue-chip index closed over 58 points lower at 6,642, while the FTSE 250 was also down
Lloyds and RBS drive FTSE 350 dividends to another record year, but is this trend sustainable?
High yields are often viewed as a warning that a company’s dividend is too high to maintain, but a new study thinks the issue lies with the value of unloved UK stocks and not their pay-outs
Centrica shares knocked as Deutsche Bank cuts target price for British Gas owner in review of European utilities
The German bank repeated a ‘sell’ rating on the FTSE 100-listed firm and reduced its target to 115p from 135p, leading the shares to shed nearly 4% at 134.10p in late morning trading
Centrica's dividend at risk if anything else goes wrong for the British Gas owner, says UBS
UBS sees the possibility of a takeover bid for Centrica after rumours of foreign interest in the firm emerged last year
Analysts expect British Gas parent Centrica to cut dividend as it feels the heat of price cap
“Perhaps it would be better if British Gas owner Centrica just cut its dividend and got it over and done with," said Russ Mould, investment director at AJ Bell
Investments and investor services
Minds + Machines on the march after non-exec buys shares
A look at the day's winners and sinners, including Bigblu, Hardy Oil & Gas, Urals Energy, Juridica, Ebiquity, Egdon Resources, Union Jack Oil, Europa Oil & Gas, Wynnstay, Veltyco and Centrica
British Gas owner Centrica expects energy price cap to hit 2019 earnings
“As previously indicated, we expect the price cap to result in some negative near-term impact on earnings and cash flow, particularly in 2019 before we have fully realised planned cost efficiencies,” Centrica said
FTSE 100 closes firmly in the red as PM Theresa May says Brexit deal within grasp
The UK blue-chip benchmark closed down nearly 90 points at 6,960, while the FTSE 250 shed nearly 55 points
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No profit warning repeat hoped for from British Gas owner Centrica
Aside from Centrica, the Day Ahead includes updates from the likes of water firm Severn Trent, booze retailer Majestic Wines, and pubs operator Mitchells & Butlers
Centrica's British Gas launches first residential tariff for electric vehicle users offering cheaper electricity at night
The FTSE 100-listed group said electric vehicle drivers use up to 80% more electricity if they charge at home and so can benefit from tariffs which pass on cheaper overnight wholesale electricity costs
FTSE 100 closes lower as UK politics, Brexit remain the focus
The chief negotiator for the EU, Michel Barnier, has proposed extending the transition period for the UK to leave the bloc until as late as 2022. Theresa May said she was not keen on the idea
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UK investors will have plenty of updates to chew over in the coming week as turkeys are prepared for US Thanksgiving
Aside from the inevitable Brexit drama, the Week Ahead will be dominated by another batch of corporate updates from the likes of Kingfisher, Centrica, easyJet, and Compass Group
Centrica appoints chairman-designate from Weir Group
The FTSE 100-energy group said Charles Berry would be appointed initially as a non-executive director before taking over from Rick Haythornthwaite on 21 February 2019
FTSE 100 closes in positive territory as US dollar builds on gains
The pound is off 0.52% against the greenback at the time of writing..
West of Shetland discoveries point to new growth for offshore UK
The narrative around the North Sea’s demise is both exaggerated and premature, but, the 'blue sky' very much remains in the West of Shetland region
Centrica boosted as Goldman Sachs double-upgrades the British Gas owner’s rating to 'buy' from 'sell'
Goldman’s analysts noted that Centrica shares have fallen by around 40% over the last two years, weighed down by rising competition and increased political regulatory scrutiny within UK energy supply
EasyJet declines following 'sell' rating
A look at some of the biggest risers and fallers in the London market on Tuesday
FTSE 100 closes marginally lower as stocks look rudderless
The UK pound is off 0.14% against the US dollar, and flat against the Euro at the time of writing
FTSE 100 closes lower after lacklustre day; trade fears weigh
FTSE 100 closed down nearly two points on the day at 7,302
Centrica hires BP's Hookway to head up business supply unit
Hookway joins Centrica's board on December 1, when he will also start his new role
FTSE 100 closes higher with pound volatile, as tobacco stocks fire up on FDA move
The UK blue chip index rose 34 points to 7,308 around 3.40pm
Centrica and SSE shares gain as Ofgem energy price cap removes uncertainty
Ofgem said the planned energy price cap would save 11 million households on default deals about £75 on average
Investments and investor services
FTSE 100 closes lower again as traders flee from risk
The UK blue chip index was about 10 points lower at 7,373, above the session low of 7,357.09 but below the morning peak of 7,397.74
Well-received interim results boost Biome Technologies and Gamma Communications
A look at some of the biggest risers and fallers in London on Monday
SSE “pleased” UK regulator has provisionally cleared planned merger of its energy retail business with Npower
The merger will create Britain's second-largest retail power provider and reduce the ‘Big Six’ dominating the market to five companies as they face political scrutiny over tarriffs
Centrica shares boosted by Citigroup rating upgrade, says utilities “starting to see fundamental value”
The US bank raised its stance on both Centrica and its blue-chip peer United Utilities PLC to ‘buy’ from ‘neutral’, highlighting valuation calls in both stocks
Centrica's British Gas to pay £2.65mln over exit fees and overcharging
Ofcom said British Gas provided 2.5 million customers with incorrect terms and conditions about exit fees
Investments and investor services
FTSE 100 gets hit by sterling surge after Barnier's Brexit comments
Michel Barnier apparently said that the bloc was willing to offer the UK a unique deal
Centrica says British Gas Standard Variable Tariff to rise by 3.8% for existing customers from October 1
The FTSE 100-listed firm said it actively wants its customers to choose alternatives to the SVT - which was withdrawn for all new customers on 31 March
Centrica makes multi-million pound investment in Israeli electric vehicle charging software start-up, media report
Reuters said Israeli company Driivz has developed a cloud-based EV charging operating system that helps power network operators, car manufacturers and utilities manage charging and account billing
Centrica expects to maintain its 2018 dividend, allaying cut fears, as British Gas owner posts slight rise in first-half earnings
The FTSE 100-listed firm saw its underlying earnings (EBITDA) increase by 3% to £1.324bn for the six months to June 30, however, the company's adjusted operating profit fell by 4% year-on-year to £782mln
Archive
BP may have already given a results spoiler, but there will be plenty else to digest on Tuesday
Aside from the oil giant's second-quarter numbers, results are also due from the likes of Centrica, Standard Chartered, Taylor Wimpey, Just Eat, and Greggs
Archive
Banks in the foreground as the BoE and Fed make rate decisions; Barclays, Lloyds, RBS all report results
Aside from the raft of banking numbers in the Week Ahead, the likes of BP, Centrica, Next, Rolls-Royce, BAE Systems and Taylor Wimpey will also continue the FTSE 100 reporting splurge
Germany’s E.ON to raise prices for UK customers taking both gas and electricity by 4.8% from August 16
The German firm noted that wholesale energy costs have increased more than 20% since March, largely due to the impact of extremely cold temperatures earlier this year depleting European gas storage
Jefferies upgrades Centrica to ‘buy’ as it claims Ofgem’s price cap won’t be “highly punitive”
Analyst Ahmed Farman reckons Ofgem is likely to adopt a “balanced approach” when it brings in its new price cap on standard variable tariffs
Ilika zooms higher on news of government grant
Some of the main news-driven risers and fallers in London on Tuesday afternoon...
FTSE 100 closes in red as resource stocks lag and Brexit debate goes on
With the Trump-Kim meeting and various pieces of economic data behind us, all eyes are turning to Parliament, which is set to vote on amendments to the EU Withdrawal Bill today and tomorrow
Centrica gets a boost as JP Morgan analysts claim dividend is safe for now
Centrica expects to maintain its 12p full-year dividend, which gives a yield of more than 8% based on the current share price, well above the average FTSE 100 yield of 3.9%
FTSE 100 dips towards bell but still closes higher; pound up against US dollar
The UK's premier index added over 25 points at 7,712, with resource stocks taking up four of the top five positions.
SSE to raise gas and electricity prices by £76 a year
The changes will come into effect on 11 July 2018 and will affect 2.36mln customers of SSE Energy Services and M&S Energy
Centrica weighed by Morgan Stanley downgrade following British Gas owner’s recent trading update
The US investment bank cut its rating for the energy distributor to ‘underweight’ from ‘equal-weight’ and reduced its target price for the stock to 115p from 160p
BT Group is not the only blue-chip with a debt mountain and pension problems
There's an argument to be made that BT would have been better off tapping the market three years ago when its shares were twice as high as they are now, rather than braving it out. John Harrington looks at the FTSE 350 to see whether there
Centrica shares edge higher as British Gas-owner on track to meet full year targets despite 'Beast from the East' hit
Centrica said revenue is expected to be weighted to the second half of the year
FTSE 100 closes in red as there is little around to spark investor interest
FTSE 250 fared better though closing ahead by around 15 points at 20,800.
Archive
Wide variety of blue-chip updates due in coming week - from Centrica to AstraZeneca
Week ahead includes updates from drugs giant AstraZeneca, mobile phones operator Vodafone Group, British Gas-owner Centrica, and postal delivery firm Royal Mail Group
Investments and investor services
FTSE 100 closes higher, given a leg-up by weaker pound
The blue-chip index closed around 38 points higher at 7,700
Investments and investor services
Will BT Group be able to avoid cutting its dividend?
Thursday is set to be a busy one for corporate results with the likes of BT Group, Barratt Developments, Next and Supergroup among the day's highlights.
Centrica Chairman Rick Haythornthwaite to step down within next twelve months
Centrica said Haythornthwaite joined the Board as a non-executive director in October 2013 and became chairman in January 2014
Archive
Rate hike unlikely from May Bank of England policy meeting after recent dull UK data
Aside from the latest Bank of England interest rate decision, the week ahead includes updates from Wm Morrison Supermarkets, Next, BT Group, ITV, and William Hill ...
Can blockchain and solar ease energy costs for British households?
The transaction saw electricity generated at one property via solar panels sold to residents
EDF Energy to raise UK electricity prices by £16 on average per year
The French company said there will be no change to UK gas prices for direct debit customers
Investments and investor services
FTSE 100 closes in red amid trader tensions but Tesco soars
FTSE 100 closed in the red - down around nine points at 7,257
Investments and investor services
FTSE 100 finishes lower as mining stocks retreat on Chinese tariff fears
Investors remain nervous over the prospect of an escalating trade war between the US and China but were somewhat placated by anaemic jobs growth in March in the US, which has made four rate rises this year less likely
Changing horses: Paddy Power Betfair poaches new CFO from Saga
The FTSE 100-listed bookmaker said Jonathan Hill will replace outgoing CFO Alex Gersh, who announced his intentions to step down in early March
Broker upgrades Centrica on dividend and valuation grounds, but investors shouldn’t get too carried away
Evidently there are many reasons for investors to not like Centrica, but, a sustainable dividend and the current valuation causes RBC Capital to upgrade the British Gas owner.
FTSE 100 closes higher but below 7,300, as Wall Street heads north
London's blue-chips closed up around 45 points but below the 7,300 level
Proactive Oil Highlights: Diversified Gas & Oil, Range Resources. Europa Oil & Gas ...
Proactive takes a look at the news from the small-cap oil and gas sector
Centrica jumps as £500mln cost initiatives, held dividend counters sharp drop in profits
Another silver-lining was that group debt had reduced by £877mln to £2.6bn at the end of the year, which was at the lower end of the targeted £2.5bn to £3bn range
Investments and investor services
FTSE 100 closes in red, despite US market turnaround
In London, the FTSE 100 closed down around 29 points at 7,252
Archive
Another day, another bank reporting results - Barclays the next up to the oche
Day ahead includes a swathe of FTSE 100 results, including from the likes of Barclays PLC, British American Tobacco PLC, BAE Systems PLC, and Centrica PLC
Archive
Could price-to-sales be the key to identifying blue-chips on the recovery trail?
Since the "bombed out" virtual portfolio bit the dust, we've lacked a stock filter that identifies recovery stocks; once again drawing on the simple ideas of Michael O'Higgins ("Dogs of the Dow"), John Harrington takes a look at the price-t
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Banks to feature strongly in deluge of blue chip earnings, including Lloyds, RBS, Barclays
Week ahead includes a deluge of blue chip results, notably from the banking sector, including numbers from HSBC PLC, Barclays PLC, Lloyds Banking Group PLC, and Royal Bank of Scotland PLC
Keller gains on US acquisition talks, also says Trump tax changes will benefit future earnings
Some of the main biggest risers and fallers in London on Friday
FTSE 100 pops higher again to another record close
It was another quiet day in London but also another record close
FTSE 100 closes in red as UK manufacturing growth slows more than expected
The FTSE 100 gave up some of the gains made on its recent record-breaking run, with the pound's rise partially to blame
Year past and year ahead: Carillion, Lloyds, RBS and BT Group in focus
Carillion, Lloyds, RBS and BT were in the spotlight in 2017 and are likely to remain closely eyed by investors in 2018
FTSE 100 stocks you should have bet your house on in 2017
Look at what you could have won...borrowing Bullseye host Jim Bowen's catchphrase, stock-picker-in-residence John Harrington looks at the winners (and losers) of the blue-chip index
Lloyds, BP, Shell offer yield hunters plenty of food for thought
Interest rates may have risen a touch but so has inflation (in the UK at least) and high yielding and safe(ish) dividends are in demand more than ever
FTSE 100 slips slightly to close in the red after swinging between gains and losses
The FTSE 100 finally gave up and settled in the red, albeit slightly down ahead of BoE's monetary policy decision on Thursday
Investments and investor services
FTSE 100 closes higher as miners gain and sterling slides
The FTSE 100 closed the day higher, as the weak pound helped, while other European indices lagged
FTSE 100 up 1% as pound takes a kicking following Brexit breakthrough
The non-farm payroll number beat consensus expectations, coming in at 228,000