London stocks were mixed but broadly positive at midday Thursday, as Bank of England data showed an unexpectedly large increase in UK mortgage approvals.The FTSE 100 index was up 19.99 points, 0.3%, at 7,644.97. The FTSE 250 was up 82.15 points, 0.4%, at 19,095.73, and the AIM All-Share was down 0.44 of a point, 0.1%, at 737.60.The Cboe UK 100 was up 0.4% at 766.43, the Cboe UK 250 was up 0.6% at

There were several trends in the UK stock market this year which, if you managed to identify them, served you well.Most obviously, although it may not have seemed it at the index level, large-cap stocks generally performed better than small- and mid-caps, although for the lucky few the small-cap space has been rife with takeover activity.In terms of sectors, aerospace and defence topped the FTSE 3

According to Charlie Munger, Warren Buffett's highly respected colleague and co-manager of Berkshire Hathaway (BRK.B:NYSE), 'All intelligent investing is value investing, acquiring more than you are paying for.'Or, as Howard Marks of Oaktree Capital Management puts it, 'It's not what you buy, it's what you pay, and success in investing doesn't come from buying good things but from buying things we

Renewable energy supplier Drax (DRX) came under pressure on 15 September following news that the National Audit Office will issue a report on the Government's biomass strategy, including analysis of how support had been funded and implemented.Drax argues burning wood pellets is a sustainable source of renewable energy, but not everyone agrees. Critics highlight subsidies Drax received for burning

- Full-year adjusted earnings expected slightly above expectations- Company says generated 20% of UK renewables at peak demand in 2022- Analyst notes 'high pricing is persisting for longer'Strong demand for renewable power has seen Drax (DRX) lift its full-year adjusted earnings guidance 'slightly' above analysts' expectations - demonstrating the key role the company is playing in addressing the c

Freezing temperatures have sent UK power prices to record highs, with the surge in demand created by the wintry weather accompanied by very still conditions which led to a lack of wind power.This meant higher demand for gas for power generation at the same time as households and businesses were turning up the thermostats.At one stage on 12 December grid operator National Grid (NG.) asked Drax (DRX

What will Jeremy Hunt's windfall tax changes mean for energy infrastructure investment in the UK, it's a fair question and one that's already generated more than a few headlines.Both the bosses of Shell (SHEL) and SSE (SSE) have warned their respective companies will have to review their slate of investments because of the changes, changes which have thrown previous 'fiscal calculus' up in the air

In a bid to calm financial markets the new chancellor Jeremy Hunt has rowed back (17 October) virtually all the proposed tax cuts in the mini budget while the cap on energy bills will now only last until April 2023 rather than for two years.Long-dated UK gilt prices surged 5% higher as yields dropped from 4.8% on 14 October to 4.4% while the 10-year yield fell by 0.4% to 3.9%.Despite the fall in y

Stocks and trusts with exposure to the renewables sector have taken a big hit over legislation to set a temporary cap on their revenue to help lower wholesale energy prices.Announced on 11 October, the level of the cap is still a matter for consultation but had been expected to take a similar format to the one outlined by the European Union whereby non-gas generators must pay member states the exc

- Planned renewables price cap sinks sector- UK cap seen lower than European equivalent- Renewables firms threaten to cut investmentShares in gas and electricity distributor Centrica (CNA) hit their lowest level this year, falling almost 5% to 67.5p in early trading, after it was reported the government was planning to cap prices on renewable energy.Shares in rival utility Drax (DRX) were also low

Inflation is running at 40-year highs with June consumer prices increasing by more than 9% year-on-year on both sides of the Atlantic.Unsurprisingly it continues to grab headlines and keeps investors' attention firmly fixed on central bank interest rate rises designed to cool the economy.Supply shortages created by the reopening of the world economy have been exacerbated by the war in Ukraine and

There were two key takeaways for the energy sector from chancellor Rishi Sunak's cost of living measures (25 May). First the windfall tax - or 'temporary, targeted energy profits levy' - went further than the measures proposed by Labour.Second, power generation firms are not out of the woods yet despite any announcement on a levy on their excess profit being delayed.Ominously the Treasury is 'urge

SSE (SSE) £17.29Gain to date: 11.8%Original entry point: Buy at £15.46 on 3 June 2021Energy sector shares came under pressure (24 May) after the Financial Times reported the UK chancellor Rishi Sunak had ordered plans to be drawn up to impose a windfall tax on up to £10 billion of excess profits earned by electricity generators including operators of wind farms.This notably goes further than sp

The utilities sector has historically attracted investors for its defensive and reliable revenue streams which in turn funded a decent level of dividend income.More recently, several connected factors have shaken up this industry. These include a transition away from fossil fuels into renewables in the face of a climate emergency, greater appetite for investments in ESG (environmental, social and

Drax (DRX) 811pGain to Date: 21.6%Original entry point: Buy at 667p on 10 March 2022It is pleasing to see the shares perform well, but arguably the gains are supported by continued improvement in the fundamentals of the business.A strong first quarter prompted Longspur Research analyst Adam Forsyth to raise his 2022 earnings per share forecast by 16% to 70.9p and his 2023 forecast by 12% to 98.9p.

A tight UK energy market and higher prices are providing a tailwind for renewable energy generator Drax (DRX) which increased guidance following better than expected full year results (24 Feb).Drax also benefits from intermittent wind and solar supply and earns ancillary revenue from effectively keeping the lights on and supporting the system.At a capital markets day presentation (1 Dec) Drax anno

Shares in biomass energy company Drax (DRX) gained 1% to 580.6p on Tuesday after the company agreed to acquire the wood pellet sales contract book of Pacific BioEnergy Corporation.Drax's biomass pellet business, Pinnacle Renewable Energy, has acquired 2.8Mt of orders of sustainable biomass to 'high quality' counterparties in Japan and Europe for delivery between 2022 and the mid-2030's.The contrac

UK stocks rallied on Wednesday, regaining much of the previous day's losses along with European and US markets as fears surrounding the latest Covid strain eased.Travel and leisure stocks International Consolidated Airlines (IAG) and Whitbread (WTB) traded higher, while energy stocks BP (BP.) and Royal Dutch Shell (RDSB) were also well bid as oil prices rebounded.Telecom firm BT (BT.A) was the to

UK stocks rallied on Wednesday despite US stocks falling overnight after Federal Reserve chair Jerome Powell suggested inflation was no longer transitory and hinted that tapering of financial stimulus would have to go ahead no matter the impact of the Omicron variant of Covid-19.Travel and leisure stocks International Consolidated Airlines (IAG) and Whitbread (WTB) were the top performers, while

London's FTSE 100 firmed 1.24% to 7,146.73 points early on Wednesday, despite US stocks falling overnight after Federal Reserve chair Jerome Powell suggested inflation wasn't transitory after all and hinted that tapering of financial stimulus would have to go ahead no matter the impact of the Omicron variant of Covid-19.Although the combination of a Covid-related knock to growth, reduction in cent