Company
LON:NG.
National Grid is an international, London-based company, which provides electricity and natural gas
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There has been a “sharp divergence with perceived quality being rewarded, although with much lower multiples for utilities with a more mixed track record, or in some cases cyclicality”
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There was a £117mln impact from coronavirus on earnings from increased provisions for US bad debts, with another £400mln expected to hit profits in the current year
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Despite a small recovery, there is little sign that the blue-chips will turn positive before the close
National Grid is the standout bluechip name in the diary for Thursday.
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Analysts at the bank also downgraded their recommendation on National Grid
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Adriatic Metals* (ASX:ADT) – Rupice metallurgical results BHP (LON:BHP) – Half-Year Production report BlueRock Diamonds* (LON:BRD) – Achieves profitable operations during H2 2019 Base Resources (LON:BSE) – Assays indicate likely high-grade
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Chief executive John Pettigrew felt it was a “solid financial performance” in the half-year
Ofgem said it was unsure National Grid's £717mln funding request represented "value for money to consumers"
Ofgem said it would start its own inquiry into what happened after receiving National Grid’s findings as it felt there were “still areas where we need to use our statutory powers to investigate these outages”
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"The [jobs] report will more than likely be brushed aside as Fed Chair Powell and US President Trump continue to clash horns in a power struggle," said Nick Kilbey, a sales trader at Foenix Partners
Strategists at the investment bank downgraded its rating on global equities as it saw a "poor" risk/reward outlook for the next three months
Investments and investor services
The UK's index of leading company shares closed Friday down nearly 23 points at 7,345
Investments and investor services
The FTSE 100 closed 32.86 points higher at 7,218.16 on Thursday, just easing off its late afternoon high of 7,235
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The Day Ahead will also bring updates from two FTSE 250-listed firms, transport operator FirstGroup and water utility Pennon, plus numbers from newspapers group Daily Mail
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The shortened trading Week Ahead will only bring updates from the likes of second-liners FirstGroup, Pennon, Wizz Air, and Daily Mail & General Trust
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The UK Opposition party said privatisation of the UK’s energy grid had led to “companies operating the grid to rip customers off”
Investments and investor services
The UK benchmark index closed over 56 points higher, at 7,353, aided by the fall in the pound
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Numbers from Countryside Properties, National Grid, and Wincanton will also be among Thursday's highlights.
Hardware & electrical equipment
CTPs are used to provide sealing around pipelines when they pass through concrete walls, allowing pipes to be inspected and maintained more easily while preventing contamination
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A glance at some of the day's highlights from the Proactive Investors newswire
Williamson, who also chairs FTSE 250 engineer Spectris PLC and is senior independent director at National Grid PLC, has been on the board of Imperial Brands since 2007
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The FTSE 100-listed power distributor said the agreement is for a five-and-a-half-year contract for 1,250 employees in the Massachusetts Gas business
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The FTSE 100-listed company said it "welcomes" the Ofgem’s "continued commitment" to the key principles of the new RIIO-2 regulatory framework, which involved "incentives, innovation and output based regulation"
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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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
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Sainsbury, Superdry and Burberry are among the names in the diary for Thursday.
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Aside from the US elections and Fed policy meeting, updates from UK blue-chip retailers J Sainsbury, Wm Morrison Supermarkets and Marks & Spencer should draw the most attention in the coming week
The pound added 0.03% against the Euro and was up 0.40% against the US dollar..
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
FTSE 100 closed down 0.46 points, or 0.01% at 7,700 on Monday
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The bank said that while it had turned more positive on the sector in early April, an average 20% rally in prices since then meant there was now “a more balanced risk-reward trade-off”
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Tariffs are to be imposed on steel and aloooooooooomin'm imported from Canada, Mexico and the European Union.
Investments and investor services
Platinum refiner Johnson Matthey provides one of the week’s rare blue-chip appearances, whereas FirstGroup investors will want answers after management snub takeover advances recently.
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Week Ahead also includes full-year results from platinum refiner Johnson Matthey PLC, transport operator Firstgroup PLC, and discount retailer B&M European Value Retail SA
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The FTSE 100 utilities provider reported underlying pre-tax profits had increased 4% to £2.68bn, while revenues before exceptional items and remeasurements stood at £15.2bn
Investments and investor services
FTSE 100 closed at a new all time high on Thursday, up 0.70% to 7,787
Investments and investor services
As Moya Greene's last set of Royal Mail results are released analysts expect the attention will be on guidance for 2019.
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
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The power distribution group said Andy Agg, currently group tax and treasury director, will hold the CFO position on an interim basis while the board looks to identify a permanent successor
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Poor manufacturing stats raise worries over the British economy, the PMI measure for April was the lowest for 17-months..
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The FTSE 100-listed utilities provider said the costs, totalling £140mln, are expected to be recovered by its US businesses in future periods
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In a note to clients, the bank said the sector has lost a quarter of its value over the last year as it was hit by regulatory and competitive pressures as well as concerns over political risk
Investments and investor services
The Footsie has been in consolidation mode for most of the day
This week saw a UK gas shortage, new discoveries, and share placings
Carillion went into liquidation last month after failing to secure a rescue deal in talks with lenders and the government
The dollar's revival did not last long, and although a weak dollar is regarded as being detrimental to the FTSE, the top-shares index still managed a 50 point gain
Investments and investor services
On a separate note, Mifid II comes into force today with the aim of increasing transparency and making everyone in the investment chain more accountable for their decisions
Market was subdued as US markets were closed for Thanksgiving
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The day ahead includes a trading update from British Gas owner Centrica, full year result from pubs operators Mitchells & Butlers PLC, and interims from Mothercare PLC
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National Grid gets to keep its systems operator unit but will be expected not to interfere in the way it is run
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Analysts at the bank think the next electricity transmission price control, due to start in 2021, will be pushed back for another two years
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The pricing system has to be more flexible said the energy regulator in a consultation paper
Macquarie also cut its target price for Centrica to 220p and downgraded its 2017 earnings per share estimate by 17%, taking it to 9% below consensus
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National Grid will receive a payment of £3.6bn in cash from the consortium buying the asset and will own a 39% minority equity interest in a new holding company
“Cumulatively, our efforts are generating momentum that puts us on a path to greater gas technology sales in 2017”
AstraZeneca, Vedanta, Halfords, and SuperGroup were among those in Thursday's diary.
Aside from the election, several UK retailers have results due next week
The framework agreement lasts for five years and could be worth in excess of £30mln
Royal Mail expected to report revenues of £9.2bn and pre-tax profits of £410mln
Other updates come from paving specialist Marshalls, SSE Group, Thomas Cook Group PLC and Mothercare
It is also a first order for the IRIS-LITE unit, for smaller substations and above ground installations.
A light hearted look at shareholder perks that are available. Great news for beer swilling clothes horses in need of a telephone line rental.
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With the exception of BHP Billiton, where the Samarco dam disaster still hangs over the company, mining shares were the day's best performing blue-chips.
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As the cost of servicing National Grid's debt starts escalating, margins will be squeezed, limiting earnings per share growth going forward.
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Grid company to offload £6bn majority stake in UK gas distribution arm
There are bigger companies reporting this week, such as Sainsbury's, Prudential, SABMiller and Rolls-Royce, but few will command as much coverage as TalkTalk,
Investments and investor services
In London, the FTSE100 ended 82 points lower to 6,104, after a bizarre moment earlier in the day.
So-called "basket trade" caused 60-point plunge in FTSE 100 Index
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Imperial Tobacco is back on the radar of Credit Suisse with an ‘outperform’ rating.
The City says be overweight Ladbrokes, National Grid and be indifferent to HSBC
Investments and investor services
A pair of profit warnings meant IT contractor Scisys and high pressure product manufacturer Pressure Technologies were the biggest fallers on a disappointing day for equities.
