UK Energy Retail Market Crisis Threatens Smaller Suppliers
0821 GMT - In the U.K., smaller electricity suppliers that don't
have adequate hedging positions now face the most serious financial
consequence as they have to be buyers of open market power and gas
at prices which well exceed the mandatory price cap, RBC Capital
Markets says. "We see heightened risk for smaller, less well-hedged
energy suppliers to face bankruptcy in the event of this crisis,
but we are mixed on if this presents a positive longer-term
opportunity for larger energy suppliers in the U.K., such as
Centrica," the bank says. (jaime.llinares@wsj.com)
Companies News:
SourceBio Warns New Covid-19 Testing Plans Will Hurt Growth in
2021
SourceBio International PLC said Monday that the U.K. changes to
travel PCR testing for Covid-19 are expected to impact growth in
2021.
---
Open Orphan Swung to 1H Pretax Profit
Open Orphan PLC on Monday reported a swing to a pretax profit
for the first half of 2021 and said that its full-year earnings
will be strong but fall below market expectations.
---
Finsbury Food FY 2021 Pretax Profit Rose; Reinstates
Dividend
Finsbury Food Group PLC said Monday that pretax profit for
fiscal 2021 rose as revenue increased, and that it is reinstating
dividends.
---
Frenkel Topping's 1H Assets Under Management, Profit Rose
Frenkel Topping Group PLC on Monday reported higher assets under
management and an improved profit for the first half of the
year.
---
MyHealthChecked Says Outlook Positive Despite Lifting of UK
Travel Rules
MyHealthChecked PLC said Monday that its directors remain
confident monthly testing volumes will continue contributing to
revenue growth, noting that revenue for the third quarter exceeded
its performance in the last two months of the first half.
---
Haydale Graphene to Raise GBP4.5 Mln to Fund Working Capital
Needs
Haydale Graphene Industries PLC said Monday that it plans to
raise 4.5 million pounds ($6.2 million) via a share placing and
subscription and will use the money towards the general working
capital needs of the business.
---
Ten Lifestyle Group Renews Contract With Barclays Bank UK
Ten Lifestyle Group PLC said Monday that it has secured a
multiyear renewal of its contract with Barclays Bank UK PLC to
provide its concierge and lifestyle services.
---
Lightsource BP Secures $1.8 Bln Credit Facility, Targets 25GW
Solar Developments by 2025
BP PLC's Lightsource bp said Monday that it has secured a $1.8
billion credit facility to develop 25 gigawatts of solar power
generation capacity by 2025.
---
Redde Northgate Says Its Performance Continues to Be Strong
Redde Northgate PLC said on Monday that it has continued to
perform strongly across all segments since it announced its
preliminary results on July 7, and that it has signed some new
multi-year contracts.
---
Arecor's Insulin Candidate Achieves Positive Results in Phase 1
Trial
Arecor Therapeutics PLC said Monday that its insulin candidate
for diabetes, AT278, met all primary and secondary endpoints with
positive headline results from the Phase 1 clinical trial.
---
Eurasia Mining Raises GBP11 Mln to Fund Rosgeo JV Projects
Eurasia Mining PLC said Monday that it is raising around 11
million pounds ($15.1 million) via a private placing of shares to
fund its joint venture with Rosgeo in Russia.
---
Tritax EuroBox Raises Share Placing Target on Higher Demand
Tritax EuroBox PLC said Monday that investor demand for its
discounted share placing has significantly exceeded its target,
adding that it has risen to around 213 million pounds ($292.6
million) at the same issue price.
---
Gore Street Energy Buys New Storage Project; Plans to Raise up
to GBP73 Mln
Gore Street Energy Storage Fund PLC said Monday that it is
buying a 57-megawatt energy storage project in Leicester, England
for an undisclosed sum and that it plans to raise up to 72.6
million pounds ($99.7 million) to fund its portfolio expansion
plan.
---
IGas Shares Rise on Deal With SSE to Develop Geothermal Plant in
England
Shares in IGas Energy PLC rose Monday in early trading after it
announced a deal with SSE PLC to develop a geothermal district
heating project in Stoke-on-Trent, England.
---
Christie Group Shares Rise on Swing to 1H Pretax Profit, Upbeat
Outlook
Shares in Christie Group PLC rose on Monday after the company
reported a swing to a pretax profit for the first half and said
that it expects to beat current full-year market operating profit
expectations.
Market Talk:
AstraZeneca Rises on Upbeat Breast Cancer Data
0823 GMT - AstraZeneca shares rise Monday morning after the
company shared strong data on its new breast cancer drug Enhertu at
a large medical conference over the weekend. The company reported
that 75.8% of women treated with Enhertu had no disease progression
one year into their treatment. In women treated with the current
standard care, Kadcyla, 34.1% had no disease progression after a
year. Enhertu targets a type of breast cancer known as HER2
positive and the trial compared it with Kadcyla in women with
metastatic disease, meaning the cancer had spread to other parts of
the body. Citi analyst Andrew Baum estimates that Enhertu could
generate $10 billion a year by 2030. AstraZeneca shares rise 3.2%
to GBP83.21 Monday morning. (denise.roland@wsj.com ;
@deniseroland)
Contact: London NewsPlus, Dow Jones Newswires; Write to
paul.larkins@wsj.com
(END) Dow Jones Newswires
September 20, 2021 04:40 ET (08:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Apr 2024 to May 2024
FTSE 100
Index Chart
From May 2023 to May 2024