Stock prices were mostly lower at midday in London on Thursday as investors await several US data prints including flash quarterly personal consumption expenditures and GDP; meanwhile Cambridge Cognition on the AIM market rose comfortably as interim pretax loss narrowed. 'Later on, a second estimate of US GDP for the second quarter and jobless claims data will be in focus as investors try to...

London stocks closed in the green on Monday, as US President Donald Trump's threats of 25% tariffs on steel and aluminium imports appear not to have phased investors.However, UK steel industry representatives have urged UK Prime Minister Keir Starmer to act to protect it from Trump's threatened levy, warning that the move would be a 'devastating blow'.The UK government is waiting to see...

Stocks in London finished in the green on Friday, after PCE data from the US came in hotter than expected.Investors are also eyeing interest rate decisions from the US Federal Reserve and Bank of England next week.The FTSE 100 index closed up 99.36 points, 1.2%, at 8,285.71. The FTSE 250 ended up 471.95 points, 2.3%, at 21,356.30, and the AIM All-Share closed up 6.64 points, 0.9%, at...

Stocks in London were in the green going into Friday afternoon, as investors kept their eyes on US inflation data due out this afternoon.The FTSE 100 index traded up 58.40 points, or 0.7%, at 8,244.06. The FTSE 250 was up 221.33 points, 1.1%, at 21,105.17, while the AIM All-Share rose 3.17 points, 0.4%, at 776.20.The Cboe UK 100 was up 0.8% at 823.02, the Cboe UK 250 rose 1.1% to 18,493.38,...

First half EBITDA up 24%£300 million buyback initiated2024 earnings seen 'top end'Drax (DRX) shares powered up 12.5% to a 52-week high of 636p after the renewable energy generator delivered strong first-half results, issued a positive full-year outlook and said it would shortly begin a £300 million share buyback.Investors were wowed by Drax's smoking-hot results for the half to 30 June,...

£7 billion rights issueInvestment to double2023 earnings lowerMultinational electricity and gas provider National Grid (NG.) surprised the market with the launch of a £7 billion fund-raise to finance investments in its network to the end of the decade.The shares, which had enjoyed a strong run from the £10 level in April up to £11.40 last week, went into reverse falling 103p or 9% to...

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%...

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...

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...

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...

- 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...

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...

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...

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...

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...

- 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...

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...

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...

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...

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...